CSL profits up
ASX LISTED biotech business, CSL, has posted a $1.9 billion after tax profit for the 2019 financial year, up 17%.
The full year figures revealed revenue was up 11%, with continued growth in CSL’s immunoglobulin and albumin therapies, increased demand for Haegarda and Kcentra, the evolution of its haemophilia threrapies portfolio, and the success of its vaccine division, Seqirus.
CSL announced a total full year dividend of $2.68 per share, up 18% on 2018.
The company said it is expecting another strong year in 2020, forecasting a 7‐10% increase in post‐tax profits to $2.1 billion.
CSL also noted that the growth forecast took into account a “one‐off financial headwind of transitioning to a new model of direct distribution in China”.