Plasma products manufacturer CSL Ltd
(ASX:CSL) has warned that a strong Australian currency could force more jobs overseas.
The Australian dollar hit a new post-float record of 104.23 US cents this morning, and is currently trading at 103.95 US cents.
Amid forecasts that the local currency could remain at this level in the medium-term CSL managing director, Brian McNamee, has told Fairfax Media that this would mean that the company will need to look extremely carefully at its Australian cost base.
In an effort to rein in costs, Mr McNamee says investment decisions would likely go elsewhere and CSL would have to look at every job and ask if Australia is the most sensible location for its operations.
In the six months to 31 December 2010, CSL reported a first half net profit of $500 million.
