CSL Limited (ASX:CSL) has announced that it will conduct another on-market buyback of up to $900 million.
The biopharmaceutical company launched a separate $900 million buyback in August 2010 that has now been completed with the purchase of around 26.1 million shares.
CSL expects the latest buyback will be completed over the next 12 months.
Speaking at the company’s annual general meeting today, Chairman Elizabeth Alexander confirmed that the company expects to deliver 10 per cent net profit growth this year.
CSL also expects to take an $85 million hit due to foreign exchange headwinds in the 2012 financial year.
In the 2011 financial year CSL reported an 11 per cent drop in its net profit, coming in at $940.6 million.
