CSL Limited‘s Share Price up to $216.88 After Positive Full-Year Results

CSL Limited’s share price reflected good full year results ending 30 June 2018.

Shares of CSL Limited [ASX:CSL] are currently trading at $215.6 in today’s market.

The biotechnology manufacturer develops and markets products to treat and prevent rare and serious diseases. CSL has shifted to Australia’s fifth largest company, totalling a market value of $91.6 billion.

Delivering on growth aids CSL Limited’s rising share price

CSL reported pleasing full year results which is most likely adding to their rising share price, where key performance and operational highlights also played a role.

They saw a 29% increase in net profit after tax of $1.729 million this financial year, which was slightly ahead of the expected guidance they released in May. Earnings per share also grew 30%.

CSL’s chief Executive Officer and Managing Director Mr. Paul Perreault commented on CSL’s full year results, saying:

The strength of our results reflects the execution of our strategy and patient-focused workforce. We are proud of our achievements this year, and looking forward to continuing our work in the year ahead.’

Note that CSL has upgraded its full-year profit forecast twice in the last twelve months, so it seems they are paying attention to the needs of their business and its share price is acting accordingly.

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The full year results reflected the success of many of CSL’s biotechnology products.

The launch of HAEGARDA, the only FDA approved injection that helps prevent Hereditary Angioedema attacks, which saw transformational therapy for patients with HAE.

The commercial productise of IDELVION is also giving Haemophilia B patients new ways of care.

Privigen, a plasma-based replacement therapy used to combat infection and disease, has been approved to treat patients with the debilitating peripheral nerve disorder called CIDP.

Lastly, CSL’s influenza vaccine Seqirus made a profit as sales of the vaccine were up 53% due to a brutal cold and flu season. The company also opened up 27 plasma collection centres in the US, which they plan to expand come the 2019FY.

CSL Limited’s share price outlook

CSL’s anticipating that its biotechnological products will keep in high demand, and to support this demand CSL is ensuring that its major capital projects continue to remain on track at all its manufacturing sites.

Naturally this looks quite good for the future of CSL’s share prices.

Mr. Perreault commented on CSL’s future projects, saying:

We continue to anticipate strong demand for CSL’s plasma and recombinant products.

Continued margin expansion is forcast as the mix of plasma therapies shift towards higher value products and specifically and recombinant products grow. New entrants into the Factor VIII Market will continue to intensify competition.


Ryan Clarkson-Ledward,
For Money Morning

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