logo
Plus   Neg
Share
Email

CSL Backs FY19 Outlook, Says On Track To Reach Long Range Goals - Quick Facts

Shares of CSL Ltd. (CSL.AX,CMXHF.PK) were gaining around 2 percent after the Australian biotech company on Wednesday confirmed its fiscal 2019 outlook of net profit after tax in the range of approximately $2.05 billion to $2.11 billion at constant currency.

The outlook represents a growth of around 7 percent to 10 percent after absorbing the one-off financial headwind of the China Good Supply Practice for Pharmaceutical Products or GSP.

Revenue is expected to grow by around 6 percent at constant currency or around 10 percent after adjusting for the GSP.

The company further said it expects to see a slight increase in margin arising from product mix shift, and strong demand for plasma and recombinant therapies to continue.

Looking forward, the company plans to launch Flucelvax in the EU in the 2019/20 northern hemisphere season and have submitted a dossier to the TGA in Australia.

"We are well on track to reach the long range goals that we set for this business for 2020," the company said.

In Australia, CSL shares were trading at A$253, up 1.86 percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The National Labor Relations Board ruled in favor of McDonald's in a long-running case filed by workers who accused the fast-food giant of retaliation after they tried to unionize. The lawsuit, filed by 20 employees against McDonald's and some of its franchise operators in 2015. The lawsuit was seeking a ruling that would consider McDonald's a 'joint employer' with its franchisees. Shares of Facebook fell almost 3 percent in Thursday's trading after the Wall Street Journal reported that the Federal Trade Commission is considering seeking a preliminary injunction against Facebook amid antitrust concerns over the company's integration of its apps. Facebook had earlier said it was planning to integrate its three messaging services. Beverages giant Pepsi announced the launch Pepsi Café, a new coffee-infused cola, which will debut in the United States in April 2020. The new beverage, which aims to satisfy both cola lovers and coffee fanatics across the US, comes in two delicious flavors - Original and Vanilla, with roasted Arabica coffee. It will be available at all major national retailers beginning in April next year.
RELATED NEWS
Follow RTT
>