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- Australian drug manufacturing giant CSL (CSL) has ended FY21 with a US$2.37 billion (A$3.27 billion) profit and an increased final dividend
- CSL shareholders will be paid a $1.61 per share final year dividend, a 10 per cent rise, bringing the total dividend for FY21 to US$2.22 (A$3.06) per share
- CSL has increased sales by 10 per cent to US$9.9 billion (A$13.64 billion) while its earnings have risen by 15 per cent
- The pharmaceutical giant is forecasting a slightly smaller profit in FY22 as plasma costs increase and COVID-19 headwinds continue
- Shares in CSL are down 1.18 per cent at $294.42 per share at 12:24 pm AEST
Australian drug manufacturing giant CSL (CSL) has ended FY21 with a US$2.37 billion (A$3.27 billion) profit and an increased final dividend.
The healthcare stock released its full year results on Wednesday, revealing its net profit after had grown by 10 per cent over the year.
CSL revealed it would pay a $1.61 per share final year dividend, which represents a 10 per cent rise year on year.
It also brings the company’s total dividend for the 2021 financial year to US$2.22 (A$3.06) per share.
In terms of revenue, CSL increased sales by 10 per cent to US$9.9 billion (A$13.64 billion) while its earnings rose by 15 per cent.
The company’s Seqirus business, which covers its influenza vaccinations, was the star performer with a 30 per cent increase in revenue.
Commenting on FY21’s results, CSL’s Chief Executive Officer and Managing Director Paul Perreault said he was pleased with the company’s performance given the impact of COVID-19.
“Despite the uncertainty and complexities we have faced, our CSL Behring and Seqirus businesses maintained all critical operations and we have continued to deliver our life saving and life extending medicines around the world,” Mr Perreault said.
CSL was the manufacturer of Australia’s AstraZenecca COVID-19 vaccination, producing 50 million doses.
Mr Perreault said the company would continue to focus on manufacturing new, life-saving vaccines.
“During the year, we announced plans to construct a new world-class biotech
manufacturing facility in Australia as a further sign of our promise to provide
safe and effective influenza vaccines around the world,” Mr Perreault said.
“Furthermore, we have accelerated our research in mRNA technology in the
next generation self-amplifying mRNA for influenza. Pre-clinical results appear promising with human clinical trials expected to commence next year.”
The pharmaceutical giant has forecast a slightly smaller profit of up to US$2.25 billion (A$3.1 billion) for FY22 as plasma costs increase and COVID-19 headwinds continue.
At 9:19 am AEST the company’s shares were up 1.33 per cent at $301.89 per share.
