ANN ... Ansell ...Just released their half year results. Numbers were even better than expected.
This company is a solid long term company. Shares in recent years have been battered by bad management decisions. Management has taken the bull by the horns and achieved a massive turnaround from earlier years dismal efforts. Large cost cutting and re allocation of assets seems to be paying off with greatly increased returns.
It must also be noted the company has staged a very large share buy back over the last 12 months involving a buyback of over 6% of the companys shares.
Todays pleasant surprise has the shares currently up 15 cents at $6.55 with a high seen of $6.68. Not so many years ago the shares were at $14.00 and had a high about 10 years ago of nearly $30.00. I am not suggesting we get to either of these soon, Ansell is a good solid company just starting to show the benifits of a major change of management thinking and restructure. I would suggest buying on any dip ... however with the improved numbers I wouldn't look for it to go much lower ... you may be lucky and get some at around $6.40.
Good luck I hold a financial interest in ANN
ANN Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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