(Adds details, results; updates share move)
April 30 (Reuters) - Energizer Holdings Inc said it plans to separate into two publicly traded companies, one for batteries and other household products and the other for personal care brands such as Schick shavers and Stayfree female hygiene products.
Energizer Shares rose 10.5 percent in premarket trading.
The company said it expects the separation to help the businesses focus more on allocating resources, innovating and growing market share.
The planned tax-free spin-off is expected to be completed in the second half of the year through September 2015, the company said in a statement on Wednesday.
Energizer said it expects the household products business, including Energizer and Eveready batteries, to generate strong margins and cash flows.
The company expects the personal care business, which also makes Wilkinson Sword shavers and Banana Boat sunscreen, to be a consumer product aimed at growing through its scale and innovation.
Energizer reported $1.9 billion in revenue for the household business in the year ended March 31. After the split company will be led by Alan Hoskins, who currently leads the household products division.
Current Chief Executive Ward Klein is slated to be the executive chairman of the personal care company. The business reported revenue of about $2.6 billion in the year to March 31.
Energizer on Wednesday said its net income rose 16 percent to $98.5 million, or $1.57 per share, in the second quarter ended March 31. Excluding items, it earned $1.88 per share.
Sales fell 3.1 percent to $1.06 billion.
Analysts on average were expecting the company to earn $1.71 per share on revenue of $1.08 billion, according to Thomson Reuters I/B/E/S.
Energizer shares were trading at $107 before markets opened on Wednesday.
(Reporting by Siddharth Cavale in Bangalore; Editing by Joyjeet Das)