Protective gloves and clothing maker Ansell has hiked its full-year profit by 42.1 per cent after strengthening its position in the global personal protective market on the back of the coronavirus pandemic.
Net profit for the 2019/20 year was $US158.7 million ($A220.6 million), after a 7.7 per cent lift in revenue to $US1.6 billion ($A2.2 billion).
“A number of our products are being used in the fight against COVID-19, particularly our Exam & Single Use Gloves along with Chemical Protective Clothing, which have been tested and certified to recognised standards for protection from infective agents,” CEO Magus Nicolin said on Tuesday.
Sales of medical exam and single-use gloves rose by 18.2 per cent in the second half of the year due to significant demand created by the outbreak of the coronavirus.
Ansell expects to see continued sales increases in the new financial year, adding that pricing would remain “dynamic”.
Sales of chemical protective clothing was up 31.8 per cent in the second half, prompting Ansell to increase production capacity to meet demand in 2020/21.
“The impact of COVID-19 on the global economy and the markets in which Ansell operates continue to evolve,” the company said.
“Although we cannot predict the severity of COVID-19 around the world, we do expect it to remain a challenge through F2021 and possibly into F2022 as well.”
Ansell will pay a final dividend of US28.25 cents per share, taking the total dividend for the year to US50 cents.