CSL's ups and downs
Thursday, 20 August, 2009
Despite having its takeover of US blood plasma company, Talecris, blocked through the year, CSL has put in a splendid showing over the last 12 months, posting a 63 per cent hike in 08-09 net profit after tax.
In fact, the 'failed' bid actually turned out to be a 'win' of sorts for the biomed giant. Due to currency fibrillations, CSL actually walked away from the non-deal $79m ahead.
Demand for CSL's products - particularly swine flu vaccine - remains strong, with two million doses of the vaccine set to land in Federal Government hands by the end of this week.
That said, CSL's stock has been through somewhat of a rollercoaster ride over the past 12 months, from a high of $41.50 just prior to the market shenanigans in September last year, to a low of $28.11 in January. Recent fluctuations over the past month have been generally pointing north, except for a sudden drop of nearly 8% in the past 48 hours. As of late this afternoon, it sits at $31.92, down 3.6% for the day.
Even so, veteran CSL head, Brian McNamee predicts revenue growth of 14-25 per cent this financial year, which would deliver a net profit after tax of between $1.16bn and $1.26bn.
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