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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