CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure. CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure.

Australian pharma company CSL posts strong half year profit

Shares of Australia's CSL were down on Wednesday, despite posting a 10% increase in its first half year profit

Australian pharmaceutical company CSL has post its first half profit, with a 10.1% increase following stronger drug sales.

CSL said the increase was due to stronger drug sales in the US, allowing the company to raise their full-year guidance higher range than earlier provided.

Net proft for the six months to December 31 came in at $1.2 billion on a constant currency basis, lifting from last year’s $1.1 billion.

Sales revenue for the six months to December 31 rose 8.6 per cent to $4.342 billion, and CSL raised its interim dividend to 85 US cents.

'This is a solid result and particularly pleasing given it follows a very strong comparative period,' chief executive and managing director Paul Perreault said in a statement.

CSL, Australia’s fifth-largest listed company said in a statement that it expected fiscal 2019 net profit to be around the upper end of the provided range of $1.88 billion to $1.95 billion on a constant currency basis. The majority 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 US Food and Drug Administration.

The company also said that demand for its plasma products were strong, and it plans to open between 30 and 35 new collection centres during the year

CSL's influenza vaccine business, Seqirus, delivered first-half earnings before interest and taxes of $300 million, compared to a full-year loss of more than $200 million three years ago, Mr Perreault said.

CSL share price

Despite the positive results, CSL Ltd shares were down 2.7% on Wednesday , at $188.44 at time of writing.

This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

Act on share opportunities today

Go long or short on thousands of international stocks with CFDs.

  • Get full exposure for a comparatively small deposit
  • Trade on spreads from just 0.1%
  • Get greater order book visibility with direct market access

See opportunity on a stock?

Try a risk-free trade in your demo account, and see whether you’re on to something.

  • Log in to your demo
  • Try a risk-free trade
  • See whether your hunch pays off

See opportunity on a stock?

Don’t miss your chance – upgrade to a live account to take advantage.

  • Trade a huge range of popular stocks
  • Analyse and deal seamlessly on fast, intuitive charts
  • See and react to breaking news in-platform

See opportunity on a stock?

Don’t miss your chance. Log in to take advantage while conditions prevail.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Friday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.