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CSL Fiscal Year Net Profit Rises, But Expects Decline in Fiscal Year 2022

   By Mike Cherney 
 

SYDNEY--Australia-based pharmaceutical company CSL Ltd. said annual net profit rose 13%, reflecting growth in its core immunoglobulin portfolio and its flu-vaccine unit, but it expects net profit to decline slightly in the current fiscal year.

The company said net profit for the 2021 fiscal year, which ended in June, was US$2.375 billion. Total revenue also rose 13% to US$10.3 billion. On a constant currency basis, which strips out fluctuations in exchange rates, both net profit and revenue rose 10%, CSL said.

The company declared a final dividend of US$1.18. That brings the full-year payout to US$2.22 per share, a rise of 10%.

CSL said total revenue rose 6% in its CSL Behring plasma business and 30% in its Seqirus flu-vaccine unit on a constant currency basis.

Looking ahead, CSL said net profit for the 2022 fiscal year would be in the range of US$2.15 billion to US$2.25 billion at constant currency. It said margin easing as a result of increased plasma costs would continue into fiscal 2022.

"We see fiscal 2022 as a transitional year as we continue to invest and deliver against our long term strategy," Chief Executive Paul Perreault said.

However, it said demand for its core plasma products remained robust and that plasma collections are expected to continue to improve. Seqirus is also expected to perform well and deliver another strong year, CSL said.

 

Write to Mike Cherney at mike.cherney@wsj.com

 

(END) Dow Jones Newswires

August 17, 2021 19:01 ET (23:01 GMT)

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