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CSL reported a 6% fall in net profit after tax (NPAT) in FY22.
The company expects NPAT for the financial year 2023 to return to growth.
The board of CSL announced a final dividend of US$1.18 (AU$1.68) per share.
CSL Ltd (ASX:CSL) on Wednesday announced a fall in profit in the financial year 2022 due to the challenges posed by COVID-19 pandemic. The ASX-listed biotherapeutics giant reported a 6% fall in net profit after tax (NPAT) of US$2.255 billion (constant currency) and at the top end of guidance, with revenue up 3% to US$10.6 billion (constant currency).
CSL said that it expected NPAT for the financial year 2023 (excluding CSL Vifor) to return to growth. It expects the profit to be in the range of nearly US$2.4 billion to US$2.5 billion.
The sale of seasonal influenza vaccine surged 16%, touching a record volume of 135 million doses distributed, and boosting US vaccine sales above US$1 billion for the first time.
Meanwhile, the board of CSL announced a final dividend of US$1.18 (AU$1.68) per share, taking the total year dividend to US$2.22 (AU$3.11). It implies a gain of 6% on FY21.
Commenting on the results, Paul Perreault, CSL’s chief executive officer (CEO) and managing director said that the company delivered strong results despite the COVID-19 pandemic. “CSL has delivered a good result at the top end of our guidance, demonstrating our resilient performance against the ongoing challenges presented by the global COVID pandemic,” added Perreault.
“The strong growth we have seen in plasma collections is anticipated to continue as COVID recedes and underpin strong future sales growth in our core plasma therapies. The current higher cost of plasma is also expected to prevail into FY23,” he noted.
The company also anticipates that its influenza business, CSL Seqirus, would deliver another strong year driven by demand for its differentiated products.
Meanwhile, CSL also announced new carbon emissions reduction targets under its sustainability strategy.
The share price of CSL has risen 0.14% on a year-to-date (YTD) basis. In the past 12 months, the share price has fallen 0.52%. The shares are down 0.09% in the past month. The stock is up 7% in the past six months. The 52-week high and low stand at AU$319.78 and AU$240.10, respectively.
On Tuesday, CSL’s shares price closed at AU$296.40, up 1.08%.
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