Ansell Limited’s stock plummeted despite reporting decent performance in FY 18

  • Aug 20, 2018 AEST
  • Team Kalkine
Ansell Limited’s stock plummeted despite reporting decent performance in FY 18

Decent FY 18 Performance: Ansell Limited’s (ASX: ANN) stock plummeted 8.2% on August 20, 2018 after the company reported FY18 Statutory Profit Attributable of $484m, that includes $345m after-tax gain on sale of Sexual Wellness and 8% rise in sales from continuing operations $1,490m on a year on year (yoy) basis. Further, for FY 18, adjusted EBIT increased 9% to $193m YOY. The company has increased full year dividend to US45.5¢ and final dividend is up 5% to US25.0¢. Additionally, for FY 19, ANN expects external market conditions to generally remain supportive to top line growth.

However, they are also creating tight demand / supply conditions especially for nitrile latex and this led to rise in the raw material costs for these and other materials, with only limited offset from a weaker natural rubber latex price. Further, the impact of the potential introduction of new tariffs on imports from the US to China is uncertain. For 2019, the organic revenue growth is expected in the 3-5% range, and the group expects transformation cost benefits, pricing and product mix actions to benefit EBIT growth. FY19 EPS is expected to be  approx. 3-5¢ vs FY18 and the adjusted EPS is expected to be in the range $1.00 to $1.12. Meanwhile ANN stock has risen 4.35% in three months as on August 17, 2018  and is trading at a P/E of 6.27x.

ANN Repport

FY 18 Financial Performance (Source: Company Reports)

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