Durex maker cautious despite a storming year

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Chief executive Garry Watts reckons that, while people will still be buying as many condoms as ever, they may start choosing cheaper products in the range, affecting SSL's revenues.

"We don't see ourselves as being in the teeth of the economic slowdown but we are not complacent. If there is a serious downturn it will affect us," he said.

As it is, SSL, which also owns the Scholl footcare brand, had a storming year to 31 March, with operating profits up 21% to £68.1 million on sales 11% higher at £533.9 million.

The group is on track to make £20 million annual savings from a restructuring of its supply division, and has seen sales in China surge 40% since buying out its joint-venture partner and full distribution rights there last year.