CSL Profit Jumps 8.3% to $1.3 Billion on Blood Treatments

Aug 12, 2014 10:43 pm ET

(Updates with share price in fifth paragraph.)

Aug. 13 (Bloomberg) -- CSL Ltd., the world’s second-biggest maker of blood-derived therapies, reported a profit increase of about 8 percent, boosted by sales of injectable antibody treatments.

Net income rose to $1.31 billion, or $2.70 a share, in the year ended June, matching the average estimate of 13 analysts. The maker of the Hizentra infection-fighting infusion had restated profit of $1.21 billion, or $2.43 a share, a year earlier. Total revenue advanced 8.6 percent to $5.55 billion, Melbourne-based CSL said in a statement today.

Paul Perreault, who succeeded Brian McNamee as chief executive officer in July last year, predicts profit will increase about 12 percent in the current year, based on constant exchange rates.

“Double-digit growth in immunoglobulin, albumin and our specialty products portfolio underpinned our strong result,” Perreault said. “We continue to see robust global demand for plasma therapies.”

CSL gained 3.1 percent to A$67.56 in Sydney trading. That pared its loss this year to 2 percent, compared with a 3.1 percent advance for the benchmark S&P/ASX 200 Index.

Profit in the latest period includes a $39 million after- tax settlement on an antitrust class action in the U.S. After completing 93 percent of a A$950 million ($880 million) share buyback, CSL will consider repurchasing as much as A$950 million more its shares, it said.

--With assistance from Natasha Khan in Hong Kong.