The Courier-Mail

Ansell de­clares con­fi­dence in $140m share buy back

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PRO­TEC­TIVE gloves and con­dom maker Ansell will buy back up to $US100 mil­lion ($A140 mil­lion) of its shares over the next year, say­ing it has the cash flow and room on its bal­ance sheet to give back to share­hold­ers.

Ear­lier this month Ansell shares plunged af­ter the re­lease of the com­pany’s full-year ac­counts, with the stock post­ing its sharpest sin­gle-day fall in nearly three decades.

In­vestors hit the ex­its af­ter the com­pany flagged a weak­erthan-ex­pected out­look as ad­verse cur­rency move­ments weighed on the group, prompt­ing a 16 per cent one-day drop.

Ansell said the buy­back would be con­tin­gent on the com­pany’s share price and mar­ket con­di­tions as well as fu­ture ac­qui­si­tion op­por­tu­ni­ties and other con­sid­er­a­tions.

Ansell has no debt ma­tur­ing be­fore the end of June, 2019.

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