CSL boosts half-year profit by 7%

CSL (ASX:CSL) grew its post-tax profit for the half-year ending in December by 7% to US$692 million ($890.3 million), on the back of solid revenue growth.

Group revenue increased by 6% year-on-year to US$2.8 billion, with plasma subsidiary CSL Behring lifting its sales by 8% to US$2.5 billion.

Albumin sales grew 16% in constant currency terms to US$358 million, making it the subsidiary’s fastest growing product line. Demand in China was particularly strong during the half year.

The biggest contributor was immunoglobulin product sales, which increased 5% to US$1.12 billion, on the strength of demand in both the US and Europe.

Haemophilia product sales grew 3% in constant currencies to US$558 million, with plasma-derived haemophilia sales up an even stronger 5%. Specialty product sales grew 13% to $443 million, despite a decline in sales of wound-healing products in Japan.

Vaccines division bioCSL meanwhile reported a 15% increase in sales to $276 million, due to strong influenza vaccine sales and the fact that bioCSL took over some commercial operations in the US following the cancellation of a third-party distribution deal.

CSL also earned US$92 million in intellectual property revenue during the six-month period, a 9% year-on-year decline.

CSL (ASX:CSL) shares were trading 7.75% lower at $83.025 as of around 2 pm on Wednesday.

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