Asaleo Care, the maker of personal care and hygiene products, has blamed price undercutting of its Libra tampons for a 4.9 per cent fall in earnings.

The company delivered earnings of $124.3 million for the year ended December 31, down from $130.7 million in 2016, consistent with a downgrade made in December to previous guidance for low-single-digit growth. Net profit after tax was $59.4 million, down 8 per cent.