Manufacturer first half profit briefs - stories you might have missed

CSL profit dips on Covid disruptions

Disruptions to the collection of blood plasma have impacted biotechnology giant CSL in the first half FY22, with EBITDA operating profits down eight per cent to $3.4 billion on sales up three per cent to $8.05 billion. CEO Paul Perreault said the company had responded with multiple initiatives in its plasma collections network, which has increased volumes. CSL’s product portfolio outside plasma showed strong growth, with its recombinant haemophilia product Idelvion sales up 17 per cent, and its bleeding product Kcentra sales up 15 per cent. Royalties received for its vaccine against human papillomavirus were up 134 per cent. The company’s Seqirus vaccine business increased revenues by 17 per cent in the half, driven by growth in production of influenza vaccines. During the half CSL announced the acquisition of Vifor Pharma.

Treasury Wine Estates still affected by China tariffs

Prestige wine maker Treasury Wine Estates has recorded an operating profits down 3.6 per cent in constant currency terms in the first half to $262.4 million on sales that declined 10 per cent to $$1.27 billion. The company’s premiumisation programme was the key to rising margins which saw net sales revenue per case up 16 per cent on the previous corresponding period. The company’s Penfolds brand reported operating profits down 19 per cent to $165.1 million on reduced sales to mainland China. However Penfolds net sales revenue and operating profits were up 49.1 per cent and 32.1 per cent respectively outside China. Treasury Americas reported a 19 per cent increase in earnings to 85.2 million, led by its luxury wine ranges. Treasury’s premium brands led by 19 Crimes, Squealing Pig and Pepperjack also grew profit. CEO Tim Ford said the company had shifted its focus from ‘recovery and restructuring’ to ‘growth and innovation’.

Maggie Beer sales up 18 per cent

Luxury food producer Maggie Beer Holdings saw continuing growth in the first half FY22 with sales up 18.2 per cent on a proforma basis and operating profit up from $8.0 to $9.8 million. The Barossa Valley company saw rapid growth in its e-commerce businesses, its Maggie Beer food brand and the recently acquired Hampers & Gifts Australia. E-commerce sales were up 174 per cent on the previous corresponding period and Maggie Beer branded product sales rose 24.7 per cent. E-commerce channels account for 59.5 of the group’s sales. Sales of the group’s St David Dairy brand were up, while sales of its Paris Creek Farms fell by 12.3 per cent. Maggie Beer Holdings ended the half with a cash position of $23.0 million.