CSL Announces Full Year Results
CSL Sustains Growth
Melbourne, Australia — 17/08/1999
CSL Limited has continued its run of strong growth in profits and revenues in 1998/99. Group revenues rose 16% to $425m, producing a net profit after tax of $47.4m, an increase of 16% on the previous years' result adjusted for the 1998 abnormal tax credit.
The Directors have declared a final dividend of 14 cents per share, fully franked, payable on 14 October 1999. This will bring the total dividend for the year to 21 cents per share, representing a payout ratio of 58%.
Managing Director, Dr Brian McNamee, said, "The growth in revenue and profits reflects further strengthening of our domestic business, with all business units performing strongly."
"International sales showed a substantial increase and now comprise about 25% of our sales revenue and this reflects the further development of our globalisation strategies particularly in relation to our Bioplasma and Veterinary Divisions."
"The recent announcement with regards to our collaboration with the American Red Cross is indicative of the globalisation strategies of the Company. CSL's commitment to the American Red Cross contract will require a significant investment in research and clinical development activities and a capacity upgrade program at our state-of-the-art plasma fractionation facility in Melbourne."
For further information contact:
Dr Brian McNamee
Tel: +61 3 9389 1376