CSL Annual Profit Rises by 20%, Forecasts Fiscal Year 2025 Underlying Earnings Growth

By Rhiannon Hoyle

Australia-based pharmaceuticals company CSL on Tuesday said its annual profit rose by 20% in large part because of a strong performance in its main blood-plasma business, and said it expects earnings to rise further in the year ahead.

CSL said its net profit totaled US$2.64 billion in the 12 months ended June 30 versus US$2.19 billion in the year-prior period.

Underlying profit on a constant currency basis was up 15% to US$3.01 billion. CSL expects underlying profit of between US$3.2 billion and US$3.3 billion at constant currency in fiscal 2025, equal to growth of between 10% and 13%.

CSL has previously said it expects annualized double-digit earnings growth over the medium term and, on Tuesday, Chief Executive Paul McKenzie said the company is well placed to achieve that goal. The company has recently recorded strong growth from immunoglobulins, a key substance collected from plasma.

Directors declared a final dividend of US$1.45 per share, taking its full-year dividend to US$2.64 a share, up 12% year over year.

Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

(END) Dow Jones Newswires

August 12, 2024 18:49 ET (22:49 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.