Ansell (ANN) sees boost from medical product demand
Ansell (ANN) +25.08%: one of the more immune companies to the current crisis is protective products manufacturer Ansell, and shares popped today on the company reaffirming their full year guidance. Ansell noted an increase in demand for their examination and surgical gloves, and at this stage hasn’t seen any impacts on production by lockdowns or implementing steps to mitigate risks at the production sites.
This increase in demand though is expected to be offset by softening in the company’s industrial products arm which supplies safety gear for industrial applications. This side of the business has been more impacted by the slowdown in activity while also noting trade restrictions has limited its ability to move product. For now though, the strength in medical supplies being offset by weakness in industrial was enough to please the market. While Ansell stood by guidance, Bank of Queensland (BOQ) and QBE Insurance (QBE) walked away from theirs.
Ansell (ANN) Chart
