In today’s briefing:
- Auctus on Friday – 13/10/2023
- Ansell Ltd (ANN AU): Worst Not Over Yet; Unfavorable Macro Backdrop Persists; Bleak FY24 Guidance
Auctus on Friday – 13/10/2023
- Pulsar Helium (PLSR CN)C; target price of C$0.90 per share: Additional acreage should increase the size of the prize – Pulsar has signed a lease with a private mineral rights holder to expand the area of the company’s Topaz helium project.
- The additional mineral rights are within a 6.2 mile radius of the Topaz discovery and cover a total of 2,840 gross acres (1,049 net acres).
- OMV (OMV AG): 3Q23 update – 3Q23 production was 364 mboe/d.
Ansell Ltd (ANN AU): Worst Not Over Yet; Unfavorable Macro Backdrop Persists; Bleak FY24 Guidance
- Ansell Ltd (ANN AU) reported 11% YoY decline in revenue to $1,655M in FY23. Healthcare business experienced significant customer destocking through FY23, leading to 21% YoY decline in segment revenue.
- Ansell has outlined an investment program to improve productivity and accelerate digitalization for total cost of $70–85 million. The program calls for production as well as job cut.
- Strong headwinds in the glove sector are expected to continue as the global oversupply situation persists. Ansell expects FY24 adjusted EPS to be $0.92–1.12 (down 3–20% YoY).
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