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CSL FY Profit Rises

Australian biotech company CSL Ltd. (CSL.AX,CMXHF.PK) reported that its net profit after tax for the twelve months ended 30 June 2019 was US$1.919 billion, up 11%, or 17% on a constant currency basis. Earnings per share grew to US$4.236 from US$3.822 last year.

Total revenue for the year grew to US$8.54 billion from US$7.92 billion in the prior year.

The company plans to open around 40 new plasma collection centers in fiscal year 2020.

The company expects net profit after tax for fiscal year 2020 to be in the range of approximately US$2.05 billion to US$2.11 billion at constant currency, representing a growth over fiscal year 2019 of about 7-10%. The growth takes into account the one-off financial headwind of transitioning to a new model of direct distribution in China.

It is expected that net profit after tax for the year to be in the range of about US$2.050 billion to US$2.110 billion at constant currency, representing a growth over fiscal year 2019 of about 7-10%.

The company said in June that it would transition to a direct distributor model in China. It will have a one-off financial effect on fiscal year 2020 albumin sales,
which are expected to reduce by about A$340 million - A$370 million.

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