Plasma hits a rich vein

CSL has shrugged off the disappointment of shareholders and analysts towards its fullyear result and softer earnings outlook, after booking a 7.6 per cent increase in net profit to $US1.33 billion ($1.7 billion).

CSL chief Paul Perreault said that after adjusting for currency fluctuations and oneoff items, the blood and plasma product manufacturer’s underlying profit was up 24 per cent for the year to June.

“I think double-digit growth is pretty great, actually. I’m pleased with where we are and where we came from,” Mr Perrault said yesterday. “I think you also have to look at what the starting point they’re looking at was and the impact of currency on current numbers.

“The underlying aspects of the business are actually extremely strong.”

His comments came as CSL shares fell 6 per cent immediately after the result before closing 1.5 per cent lower at $125.27. CSL reported a 12.9 per cent jump in full-year revenue.