CSL upgrades profit outlook after bumper first half

CSL chief executive Paul Perreault the growth was underpinned by continued strong patient demand for IG products, together with two IG products now being used to treat the debilitating neurological disorder CIDP (Chronic Inflammatory Demyelinating Polyneuropathy).

The products, Privigen and Hizentra, had sale growth of 28 per cent and 37 per cent respectively, helping to drive CSL’s total revenue 10 per cent higher to $4.7 billion.

There was also continued growth in CSL’s haemophilia products and “another strong performance” in its flu vaccines business, he said.

On the back of the result, CSL upgraded its full-year profit outlook to between $US2.11 billion to $US2.17 billion. That is up from previous guidance of $US2.05 billion to $US2.11 billion, and will reflect profit growth of 10 to 13 per cent over 2019.

The revised guidance implies CSL will deliver growth of 8 to 16 per cent in the second half.

“CSL is well positioned for sustainable growth,” Mr Perreault said.

“Exceptional demand continues for our differentiated therapies. We expect to again outpace the market in expanding plasma collections and our objective to open 40 new collection centres this financial year is on track.”

The Melbourne-headquartered CSL reports its financials in US dollars, with the US being its largest market.

Statutory net profit, which does not strip-out the impact of currency movements, was up 7.5 per cent to $1.2 billion, while statutory sales revenue was up 8.4 per cent to $4.7 billion.

More to come


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