Sorry, I just reread my post and it was poorly explained. The target was 1 in FY 15, and appears to be 1.5 in FY16. So more borrowing helps to get to the 1.5 target. We must remember that it was NcNamee that first put forward the target of 1 many years ago and CSL has been working to that for many years. It has just increased it to 1.5 recently.
My suggestion is that if you have reservations with the direction that the management team is taking then you should sell. Holding onto a stock where you do not think the management is reflecting your interests often leads to bad outcomes for the individual shareholder. (IMO)
HT1
Ann: Positive Results from CSL112 Phase 2b Trial, page-34
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