CSL 0.78% $293.00 csl limited

News: CSL UPDATE 1-Australia's CSL posts 10 pct increase in H1 profit, bumps up guidance

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    (Adds details on segment performance, outlook, CEO comment)

    Feb 13 (Reuters) - Australian pharmaceutical behemoth CSL Ltd (CSL) said on Wednesday its first-half profit grew 10.1 percent following stronger drug sales in the United States, and raised its full-year guidance to the upper end of an earlier provided range.

    Net profit for the six months to Dec. 31 came in at $1.2 billion on a constant currency basis, compared with $1.1 billion last year, Australia's fifth-largest listed company said in a statement.

    CSL said it now expected fiscal 2019 net profit to be around the upper end of the previously provided range of $1.88 billion to $1.95 billion on a constant currency basis.

    “Our immunoglobulin portfolio is performing very well,” said Chief Executive Paul Perreault, adding that the company’s Seqirus influenza vaccines business was “running to plan”.

    A good portion of CSL's earnings come from influenza vaccine sales by its Seqirus division.

    In October, the company's influenza vaccine for use in people six months of age and older was approved by the U.S. Food and Drug Administration.

    The company also said that demand for its plasma products continued to be strong, and that its plan to open between 30 and 35 new collection centres during the current financial year was on track.

    CSL, which does significant business in the United States, declared an interim dividend of 85 cents per share, up from 79 cents last year.

 
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