ANN -14.34%: the healthcare and industrials supplies company was smacked to 18+ month lows today after it flagged a number of issues leading into the half year result. Sales for the half are expected to jump ~7% to $US1,009m however a big jump in costs will weigh on margins with profit to take a ~25% hit. They noted supply chain disruptions, forced manufacturing shutdowns due to COVID outbreaks and higher input costs have weighed on the half while also seeing a slowdown in demand as customers look to draw down inventory. News US customs have also held a shipment of medical gloves following allegations of forced labour at a third party production facility also shocked the market. Ansell is working to clear the allegations however it’s another pain point in a tough half. A knife was taken to full year earnings guidance given the pressures facing the business, revised 27% lower to $US1.25-1.45.
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Performance update for March, stocks that drove returns & our current positioning
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Fri 19th April – ASC200 -117pts, Pilbara (PLS), Whitehaven (WHC) & Woodside (WDS)
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Market Matters Research Lead Shawn Hickman with David Koch
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Friday 19th April – DOW up 22pts, SPI down -55pts
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Performance update for March, stocks that drove returns & our current positioning
Recorded Tuesday 9th April
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Fri 19th April – ASC200 -117pts, Pilbara (PLS), Whitehaven (WHC) & Woodside (WDS)
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Market Matters Research Lead Shawn Hickman with David Koch
Recorded Monday 25th March
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Friday 19th April – DOW up 22pts, SPI down -55pts
Daily Podcast Direct from the Desk
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