MELBOURNE, Australia (Aug. 16) — Higher latex costs caused a 14-percent falloff in earnings for glove and condom maker Ansell Ltd. for the year ended June 30, despite a 15-percent hike in sales.
The company reported net earnings of $62.2 million for the year on sales of $765.9 million. Pretax earnings declined 2 percent to $75.8 million. Latex cost increases cut into profits by 11.4 percent, Ansell said.
Ansell said powder-free and synthetic glove sales increased by double-digit percentages in all regions.