Ansell Limited (ASX: ANN) shareholders look away now.
In morning trade today, shares of the glove and condom manufacturer crashed 17% lower and are now down 20% for the week.
Ansell's share price fall comes after the company issued a full-year profit downgrade and half-year trading update to the ASX at 6 pm Wednesday evening (i.e. after market's close).
The company said a "general weakening in the external economic environment" as well as currency and economic volatility led to yesterday's profit downgrade.
In August 2015, Ansell said it expected earnings per share for its 2016 financial year to be within the range of $US1.05 to $US1.20 per share. Now, it estimates full-year earnings per share to come in between $US0.95 and $US1.10.
For the upcoming half-year report, Ansell expects to report a 7% fall in sales and 20% fall in earnings per share, compared to the prior corresponding period.
