Ansell Ltd (ASX:ANN) says fiscal 2010 turned out better than expected, though reported a 1.6 per cent drop in full year profit to $119.4 million.
The gloves and condoms maker posted a 9.2 per cent drop in revenue to $1.24 billion.
CEO Magnus Nicolin says the company finished the year with solid momentum, and a major reorganisation establishing four global business divisions.
Mr Nicolin says with a strong balance sheet and cash flows Ansell expects to generate additional growth through acquisitions.
Looking ahead Ansell says economic uncertainty in key markets remains a concern, yet has still provided guidance of 8 to 14 per cent growth for earnings per share.
The board has announced an increased final dividend of 17.5 cents per share unfranked.
Ansell reported a profit of $121 million for the year to 30 June 2009.
ANN Price at posting:
$13.11 Sentiment: None Disclosure: Held
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