Melbourne based company, CSL Ltd (ASX:CSL) has reported a first half net profit of $500.2 million.
Although the profit was better than expected it fell 19 per cent from the previous year. Revenue also fell by 9.3 per cent to $2.19 billion.
The world's second-largest maker of human plasma products says, based on current exchange rates, it expects full year net profit to be about $950 million, which is a 10 per cent drop from the year before.
Managing director, Brian McNamee says the first half profit is a noteworthy achievement, considering the challenges of currency headwinds, government healthcare reforms and weak economic conditions in several countries where CSL operates.
CSL says the previous result was boosted by sales of its H1N1 influenza vaccine, used during the swine flu pandemic.
CSL recorded a net profit of $1.1 billion in the year to the 30th of June 2010.
