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CSL FY'18 profit rises 29% as flu vaccines, biotherapies register strong sales

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CSL FY'18 profit rises 29% as flu vaccines, biotherapies register strong sales

Australia's CSL Ltd. said earnings for the fiscal year ended June 30 grew 29% on a reported basis and 28% on constant currency basis.

Net profit after tax was about $1.73 billion on a reported basis, or $3.82 per share, up from $1.34 billion, or $2.94 per share, in the year-ago period.

Total revenue for the year was about $7.92 billion on a reported basis, up from about $6.95 billion in the previous year.

CSL attributed the growth to its units CSL Behring, which develops biotherapies for patients with unmet medical needs, and Seqirus, which supplies seasonal influenza vaccines. At Seirus, seasonal influenza vaccine sales were up 53% year over year at constant currency basis, while at CSL Behring Privigen sales grew 13% and Hizentra sales grew 12%, both at constant currency basis. Privigen and Hizentra help treat immunodeficiencies.

The company's net profit after tax for fiscal year ending June 30, 2019, is expected to grow at a range of 10% to 14%, and reach about $1.88 billion to $1.95 billion at constant currency basis, CEO and Managing Director Paul Perreault said.

Commenting on the outlook Perreault added: "We continue to anticipate strong demand for CSL's plasma and recombinant products ... In FY2019 we plan to open between 30 and 35 new collection centers and forecast a modest increase in plasma costs, tempering overall margin growth."