CSL Announces Half Year Results
CSL announces half year profit up 14.8%
Melbourne, Australia — 09/02/2000
CSL Limited today announced a net profit after tax of $18.6m for the six months ending 31 December, 1999, an increase of 14.8% on the previous corresponding half year's profit after tax.
Group sales totalled $209.5m, an increase of 10.5% over the corresponding period last year
Dr Brian McNamee, CSL's Managing Director said that he was pleased with this result. Margins in CSL's core activities, being Bioplasma products, Pharmaceutical and Veterinary vaccines remain strong with sales continuing to grow. CSL's US operations, through JRH Biosciences, Inc, and Biocor Animal Health, Inc, performed well with JRH in particular growing strongly.
The Directors declared an interim dividend of 8c per share fully franked to be paid to shareholders on 26 April, 2000. This compares to an interim dividend of 7c per share for the same period last year.
Indications for the second half of the financial year are that the underlying growth in the business operations is likely to continue. However, the effect of the transition from the Federal Government's Factor (f) Scheme to the Pharmaceutical Industry Investment Program (PIIP) is likely to result in a more moderate level of growth.
CSL also announces the entry into a collaboration with DynPort LLC, (a joint venture between DynCorp, Inc, of the US and Porton International of the UK, a subsidiary of Beaufort-Ipsen) to manufacture Q-Fever vaccine for use by the US Department of Defense. DynPort was the successful tenderer for the supply of vaccines to the US Military to deal with the threat of biological weapons. CSL needs to register its Australian approved Q-Fever vaccine in the USA and Phase III clinical trials are due to commence within the next 12 months.
For further information contact:
Mr Tony Cipa
General Manager Finance
Ph: (+61) 3 9389 1319