NZ nappy competition weighs on earnings for Asaleo, company behind Libra, Sorbent, Treasures

Thu, 23 Feb 2017

By Sophie Boot Feb. 23 (BusinessDesk) - Asaleo Care, the Australian stock exchange-listed maker of household brands such as Libra, Sorbent, Purex and Treasures, posted a 22 percent drop in annual profit with revenue declining as it faced more competition in the New Zealand nappy market. Profit fell to A$59 million in 2016, from A$75.6 million a year earlier, on a 2.6 percent drop in revenue to A$605.9 million, the nappy, toilet paper and tampon maker said in figures released to the ASX. Just over half of Asaleo's earnings come from it...

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