Ansell Limited (ASX: ANN) shareholders look away now.

Screen Shot 2016-02-04 at 11.25.13 AM

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.

Want our BEST technology stock idea for 2016?

Our expert analysts recently hand-picked their top technology stock idea for 2016. And it's easy to see why: It has a big dividend yield, is growing rapidly and has heaps of cash on its balance sheet. Best of all: their top stock pick of 2016 is yours free! Just click here, enter your email address, and we'll send you their research report. No credit card details or payment required.

HOT OFF THE PRESSES: Motley Fool’s #1 Dividend Pick for 2017!

With its shares up 155% in just the last five years, this ‘under the radar’ consumer favourite is both a hot growth stock AND our expert’s #1 dividend pick for 2017. Now we’re pulling back the curtain for you... And all you have to do to discover the name, code and a full analysis is enter your email below!

Simply enter your email now to receive your copy of our brand-new FREE report, “The Motley Fool’s Top Dividend Stock for 2017.”

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our https://www.fool.com.au/financial-services-guide">Financial Services Guide (FSG) for more information.

Motley Fool writer/analyst Owen Raszkiewicz does not have a financial interest in any company mentioned. Owen welcomes -- and encourages -- your feedback on Google+, LinkedIn or you can follow him on Twitter @ASXinvest.

Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.