Ansell has had a disappointing start to the financial year because of softer markets in parts of North America, Europe and southeast Asia.
The gloves, condoms and protection clothing maker has also taken a first strike from shareholders over its executive pay.
Chief executive Magnus Nicolin told Ansell's annual general meeting that growth in north American economy is slowing and Europe is still struggling with economic problems and the integration of refugees.
There is also softness in the southeast Asian market in reaction to China's slowing economy.
"So, a tough market," Mr Nicolin told shareholders.
"We have seen an overall one per cent decline in our sales in the first quarter compared to the first quarter of last year."
The first three months of the prior financial year was, however, the strongest quarter of that year, and was boosted by some price increases.
Mr Nicolin said Ansell's industrial division - which makes gloves, body suits and ventilation systems - was generating good growth, but medical - the maker of surgical and examination gloves - was a bit weaker because of supply constraints.
Ansell is currently upgrading capacity at one of its manufacturing plants.
The company has benefited from slightly more favourable currency movements recently, but volatility was expected to continue, Mr Nicolin said.
Ansell reports in US dollars, and about half of its revenue comes in Australian dollars, British pounds and euros - all of which have lost ground against the greenback.
Mr Barnes said a rising US dollar had put pressure on sales revenue and costs, resulting in a drag in Ansell's non-US dollar earnings.
Ansell's underlying profit rose 20 per cent to $US187.5 million in the 2014/15 financial year, but it has forecast weaker earnings per share in 2015/16, largely because of a slowdown in growth in north America.
Its shares have fallen about 35 per cent since that forecast was issued in August.
A third of shareholder votes went against Ansell's remuneration report for 2014/15, more than the 25 per cent required to deliver a strike against the company.
A second strike next year could lead to a vote to spill the company's board.
The vote comes despite a fall in chief executive Magnus Nicolin's remuneration to $3.1 million, and a relatively small increase of just over $1 million in total executive pay.
Chairman Glenn Barnes said the board plans to review the remuneration policy by the end of June 2016.
Ansell shares closed down 19 cents at $18.34.
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