CSL Limited Soars On ASX, Touches Its 2-Weeks’ High!

CSL

Biotherapeutics company, CSL Limited (ASX: CSL) joins the upward trajectory on the Australian Securities Exchange with the stock price trading towards its two-week high levels.

Today, 22 March 2019, the stock price surged up by 1.524% in line with the healthcare stock rally that led the S&P/ASX 200 to trade throughout in green before closing at 6195.2 points, up 0.5% on a day trade.

The company recently released the top-line growth of 8.6% for the half year ended 31 December 2018 which in turn activated the bull market for the company. CSL Limited has been so amazing supported by investors that the stock price uplifted 4.71% in just one month with a peak of $199.52 that was again touched by the stock today. Having said that, CSL set its day high at $199.70 in today’s trading session with the daily volume change of 640,490 shares. The stock, however, closed at $197.190 with a price to earnings multiple of 33.950 and a market capitalisation of $88 billion as at 22 March 2019. [optin-monster-shortcode id=”swikrbu1d9j9aq0o4cko”]

For the half-year ended 31 December 2018, the company reported total revenue of US$4.5 billion, up 8.6% when compared to the prior comparable period. This reflects the robust growth in CSL’s Seqirus business which posted a revenue of US$949 million, up 21% at constant currency basis primarily attributable to the increased sales of seasonal influenza vaccines.

The bottom end of the company’s interim P/L stood at US$1.2 billion in Net Profit After Tax (NPAT), up 6.8% compared to the previous corresponding period. The Board, therefore, declared an interim dividend of US 85.0 cents per share, fully unfranked and payable on 12 April 2019 with the record date of 14 March 2019. This compares to the previous corresponding period’s interim dividend of US 79 cents per share and the previous year’s final dividend of US 93 cents per share.

CSL Behring’s revenue rose by 8% to US$3,556 million at constant currency in 1HFY19, compared to 1HFY18. This was primarily driven by strong product sales of Immunoglobulin on the back of increased usage for chronic therapies as well as for disease awareness and diagnosis.

The company has also witnessed substantial growth in demand for albumin in emerging markets like Europe and China. But due to temporary constriction in import supply for China, Albumin sales declined by 4% at constant currency basis to f US$420 million in 1HFY19.

Cash and cash equivalent of the CSL Limited stood at US$665.8 million as at 31 December 2018 compared to US$814.7 million as its opening balance. The net cash outflow of US$152.1 million primarily reflects the assets acquired during the half year at the cost of US$406.6 million. Moreover, it incurred a research & development expense of US$391 million including US$25.0 million relating to a licensing agreement with Vitaeris that gives CSL rights to certain intellectual property.

On ASX, the stock has maintained an attractive uptrend in the long-run as the stock has returned a yield of 173.14% over the past five years, incorporating the surge of 18.63% in the past 12 months.


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