CSL posts FY profit above guidance

Group tips profit growth of 10% for current year despite economic headwinds.

Blood products and vaccine supplier CSL Ltd is tipping profit growth of 10% for the current year despite economic headwinds weighing on trading conditions, after posting a bumper full-year net profit. 

Investors were unimpressed by the news. At 1205 AEST shares in the company fell 2.76% to $65.93 against a benchmark index rise of 0.01%.

CSL's net profit rose 19% to $US1.21 billion ($1.33 billion) in the year to June on the previous corresponding period. 

On a constant currency basis, net profit grew 21%, slightly ahead of the company's guidance of 20%. 

Revenue rose to $US5.12 billion, from $US4.81 billion in the prior year. 

Chief executive officer Paul Perreault said trading conditions would be "tempered by economic headwinds" and said earnings per share growth would eclipse expected profit growth of 10 per cent for the current year. 

Brian McNamee retired this year after 25 years at the helm. 

CSL will pay an unfranked final dividend of US 52 cents, pushing the total dividend to $US1.02, and 18% lift on the previous year, payable on 4 October.  

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles