CSL profit, world ranking still doesn’t please market
VACCINE giant CSL’s forecast of 5 per cent profit growth in the year ahead has disappointed investors.
But the company’s outlook does not include its recently purchased business that will make it the world’s secondlargest flu vaccine maker.
CSL made a net profit of $US1.38 billion ($A1.89 billion) ) in the year to June 30, up 5.5 per cent from a year earlier, as revenue rose almost 2 per cent to $US5.63 billion.
The biotechnology firm expects similar sales growth in the year ahead, and stronger earnings per share growth than profit growth.
Chief executive Paul Perreault says healthy demand for CSL vaccines and plasma products will drive growth and lift net profit about 5 per cent.
“Our underlying growth is strong and the fundamentals, our ability to generate profit and to grow th the business, have not changed,” he said said. But CSL’s sha share price, which brie briefly hit $100 a sha share last week, fell $ $2.112.1 to $93 yesterday day. CSL declared a fina final fully-franked divi dividend of US66 , up US6 on the pre previous year.