CSL (ASX:CSL) has reported net profit after tax of $1.729 billion for the twelve months ended 30 June 2018, an increase of 29 percent on the previous year, with earnings per share up 30 percent.
The result was "slightly ahead" of the most recent guidance, said CEO and managing director Paul Perreault, with the company also reporting an 11 percent increase in revenue to $7.915 billion.
It said it expects net profit after tax in the current year to rise 10-14 percent and be in the range of $1.88 billion to $1.95 billion.
Investors welcomed the result with the company's share price rising by more than 6 percent to sit above $214.
“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,” he said.
“Our successful launch during the year of HAEGARDA provides a transformational therapy for patients with Hereditary Angioedema (HAE). Our global commercial rollout of IDELVION provides Haemophilia B patients with a new standard of care. Approval of our immunoglobulin product PRIVIGEN for the US, and HIZENTRA for the US and EU, provides patients with a convenient treatment for CIDP, a debilitating peripheral nerve disorder.”
Mr Perreault said the year has been characterised by a "tightness" in the supply of key raw material and plasma, with all industry impacted.
"The CSL Plasma team have opened 27 new collection centres in the US - a growth rate unmatched in the industry. CSL now operates 206 plasma collection centres worldwide,” he said.
“Seqirus delivered on its commitment to achieve profitability just three years after the business was formed," said Mr Perreault, with seasonal flu vaccine sales up 53 percent.
"The Holly Springs influenza vaccines facility in North Carolina, which utilises innovative cell-based technology, quadrupled the number of FLUCELVAX QUADRIVALENT doses produced this season for the US market compared to last year and we continue to implement process improvements to further boost this capacity.
“We are committed to continually innovating so as to provide patients with rare and serious diseases the best possible care. During the year we acquired Calimmune, giving us a promising gene therapy platform. We are progressing with our emerging Transplant franchise and CSL112, our cardiovascular disease product, has now moved into a Phase III clinical trial. If successful, these new therapies will fuel growth for CSL in the years to come,” added Mr Perreault.