By Mike Cherney


SYDNEY--Australia-based biopharma company CSL Ltd. said net profit in the 2022 fiscal year fell after plasma collections dipped during the Covid-19 pandemic, but it is expecting to return to growth in the coming year.

CSL said statutory net profit in the 12 months ending in June was US$2.25 billion, a 5% decline, but at the top end of guidance. Revenue rose by 2% to US$10.5 billion. At constant currency, which removes the impact of exchange rates, CSL said net profit fell by 6% and revenue grew by 3%.

The company declared a final dividend of US$1.18 per share, keeping the full-year dividend steady at US$2.22. Converted to Australian currency, the full-year dividend is up 6%, CSL said.

CSL said sales of immunoglobulin, which is derived from plasma, were limited because plasma collections had fallen during the pandemic, when a patchwork of lockdowns, travel restrictions and health concerns stopped people from attending plasma-collection centers.

Looking ahead, CSL said it expected net profit for the 2023 fiscal year to be in the range of US$2.4 billion to US$2.5 billion at constant currency. The figure excludes the recently acquired Vifor, though CSL said it would update guidance to include Vifor at the earliest opportunity.

Chief Executive Paul Perreault said plasma collections had risen in recent months, which is expected to underpin strong growth in core products immunoglobulin and albumin. However, he said plasma-collection costs had grown and that is expected to continue into the 2023 fiscal year.

He added that CSL's flu-vaccine, Seqirus, is expected to have another strong year.


Write to Mike Cherney at mike.cherney@wsj.com


(END) Dow Jones Newswires

08-16-22 1853ET