Biotechnology giant, CSL Ltd (ASX: ) boosted sales by 11 per cent and earnings by six per cent in the first half of 2019, according to a statement released to the stock exchange today.
The company reported sales revenue of US$4,505 million (Aud$6.300 million) and earnings before interest and tax (EBIT) of $1,553 ($2,160 million) for the half.
Net profit was $1,161 million ($1,612 million), up ten per cent.
Mr Paul Perreault, CSL’s CEO said the results for the blood products and vaccines company were pleasing, particularly as the previous year had shown strong results.
Perreault said, “Demand for CSL’s plasma and recombinant products continues to be strong.
“We expect to again outpace the market in growing plasma collections.
“Our plan to open between 30 and 35 new collection centres this financial year is on track.”
Perreault said in its blood businesses, sales of Privigen, CSL’s treatment for autoimmune disorders, grew 17 per cent in the half.
Sales of Hizentra, a treatment for immune deficiency rose 14 per cent.
The company’s Seqirus influenza vaccines business has moved from a loss of US$200 million ($272 million) three years ago to a first half EBIT of US$300 million ($416 million).
“Under the leadership of President Gordon Naylor, the Seqirus team have done an excellent job in taking this business into profitability.”
The half year saw major capital investment at all the company’s locations, a new ERP system installed and a new research facility, BIO-21, opened in Melbourne.
CSL is Australia’s biggest sender on R&D and during the half year five products moved into the clinical trials stage of development.
The company confirmed full year profit was likely to be around the top of its previously states estimates – US$1,950 million ($2,710 million)
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