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CSL books 11% YOY increase in FY'19 profit

CSL Ltd.'s earnings climbed 11% on a reported basis and 17% on a constant currency basis for the fiscal year ended June 30.

Net profit after tax for the fiscal year 2019 was about US$1.92 billion on a reported basis, or US$4.24 per share, up from US$1.73 billion, or US$3.82 per share, in the year-ago period.

The Australia-based biotechnology company's total revenue rose to US$8.54 billion on a reported basis from US$7.92 billion a year earlier.

Revenue was driven by continued growth of the company's immunoglobulin products and higher sales of its specialty products Haegarda and Kcentra, as well as the evolution of CSL's hemophilia therapies portfolio. The company noted that its Seqirus influenza vaccines business also delivered on the strategy, with strong profit growth.

CSL's dividend for the year saw an 8% increase to US$1.85 per share from US$1.72 in the year-ago period.

For the fiscal year 2020, CSL expects its net profit after tax to be in the range of US$2.05 billion to US$2.11 billion, taking into the account the one-off financial headwind of transitioning to a new model of direct distribution in China.