CSL Ltd., the world's second-biggest blood-products maker, said it would will consider another 950 million Australian dollar (US$$880 million) buyback of its own shares after reporting a small rise in annual net profit driven by higher sales of infection-fighting infusions in the U.S. and Europe.
The Melbourne, Australia-based firm said Wednesday that net profit in the year to June 3- rose 7.8% to $1.31 billion from a restated $1.21 billion a year earlier. The result was close to the $1.32 billion median of five analyst forecasts complied by The Wall Street Journal.
The profit rise was also slightly above the company's own guidance for a 7% rise. The result included a payment of $64 million for a legal settlement in the U.S. The $28 billion company, which competes with rivals such as market-leader Baxter International Inc. and generates the majority of its revenue outside Australia, said it expects net profit in the current financial year to rise by about 12% in constant currency terms, and earnings before interest and tax to grow by about 15%.
Source: marketwatch.com
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