gfc causes drop in libido

(Not sure where to put this.)
Sagging sales for global condom king


THE libido-draining effect of the global financial crisis has been demonstrated in the full-year earnings guidance downgrade of rubber glove and condom maker Ansell.

Ansell chief executive Doug Tough said weaker sales in November and December had led to the revision of full-year earnings forecast to a range between US65c and US70c a share.

This is 2 per cent down from its earlier forecast of US70-74c a share, The Daily Telegraph reports.

In the condoms division, total sales were slightly lower. While sales of branded condoms were robust and with overwhelming US demand for Ansell's new SKYN polyisoprene condom, it wasn't enough to prop up its private label division's sagging sales.

Mr Tough said the first half had started well, with all three of the company's divisions - occupational gloves, professional gloves and condoms - ahead of last year's results.

But the rapidly slowing global economy has put sales of occupational gloves, which represents about half ofAnsell's business, under significant pressure. Ansell on Wednesday reported a first half net profit of $72.2million - up 27 per cent on the prior corresponding half.

Sales in medical examination gloves and surgical gloves were slightly lower after the company dropped some low-margin accounts in Americas.

Ansell stock yesterday contracted 23c to finish at $9.32.