CSL (ASX:CSL) maintains interim dividend despite profit fall

Company News

by Lauren Evans

CSL (ASX:CSL) has declared the same interim dividend from a year ago despite profit falling during the first half of the 2022 financial year amid the pandemic.

The bio-tech giant declared an interim dividend of $1.04 and a net profit after tax of US$1.76 billion, down 3 per cent from the prior year period. CSL said the results were in line with expectations, although it had experienced growth in a number of its products. 

The company’s revenue rose 5 per cent to US$6.041 billion

“CSL has delivered a result in line with our expectations in a challenging environment brought about by the ongoing impacts of the global Covid pandemic,” said chief executive officer Paul Perreault. 

“Our core franchise, the immunoglobulin portfolio, has been impacted by the industrywide constraints on collecting plasma in FY21 during the course of the global pandemic.”

“Our influenza vaccines business, Seqirus once again delivered a strong performance with revenue up 17 per cent at CC2 . This was achieved by significant growth in seasonal influenza vaccines driven by record demand and Seqirus’ differentiated and high value product portfolio.” 

CSL said they expect net profit after tax for FY22 to be in the range of around $2.15 to $2.25 billion at constant currency. This includes around $90 to $110 million in transaction costs related to the agreement to acquire Vifor Pharma. 

Shares in CSL (ASX:CSL) are trading 6.6 per cent higher at $259.00. 

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