LONDON (Nov. 21, 2007) — SSL International P.L.C. took a $60.5 million restructuring charge and ended the first half of fiscal 2007 $31.3 million in the red after taxes, although sales rose 10.1 percent to $542 million.
Without the charge — covering the restructuring of the firm's European supply change — the maker of condoms, gloves and footcare products had a 19-percent rise in operating profits to $57.5 million for the period.
SSL CEO Garry Watts said the firm expects double-digit operating growth for the entire year.
Durex-brand condom sales rose 9 percent in the half because of strong growth in Italy, Eastern Europe and China, and the Scholl footcare lines posted a 19.8-percent hike in sales, SSL said. Sales of Marigold gloves and unbranded condoms also increased during the first half.