Condom maker Ansell, which has already warned of weaker future earnings, today posted a 20.6% fall to $US69.6 million in profit for the half year.
Revenue was down 7.4% to $US784.8 million in a “challenging economic environment”.
Ansell last week reported lower than anticipated January sales as customers deferred or reduced orders.
Its estimate of full year earnings per share is a range of $US0.95 to to $US1.10. The previous guidance was $US1.05 to $US1.20.
CEO Magnus Nicolin says he’s confident of good progress for the rest of the financial year and an improved earnings performance compared to the first half.
“There were elements of the first half that were disappointing and we recognise that we are operating in an economic environment that has become more challenging than expected,” he says.
An unfranked interim dividend of 20 US cents has been declared.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.