CSL

CSL has stunned the market by announcing revised profit guidance for 2013. The company now expects profits to rise by 20% to around US$1.2bn; this is a near doubling of previous guidance. The boosted expectations are being driven by the company’s CSL Behring business which has been performing above expectations; increasing both sales and prices. Additionally CSL’s GARDASIL cervical cancer vaccine is now expected to generate higher royalty revenues. This upgrade is both welcome and somewhat unexpected. CSL continues to exceed our expectations, making it difficult to peg down a precise valuation. On a forecast price to earnings ratio...

CSL has stunned the market by announcing revised profit guidance for 2013. The company now expects profits to rise by 20% to around US$1.2bn; this is a near doubling of previous guidance. The boosted expectations are being driven by the company’s CSL Behring business which has been performing above expectations; increasing both sales and prices. Additionally CSL’s GARDASIL cervical cancer vaccine is now expected to generate higher royalty revenues.

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