Biotech company CSL has posted a six per cent drop in full-year net profit to $US2.26 billion ($A3.22 billion) after supplies of its key blood plasma products were disrupted.
On a statutory basis, profit for the year to June 30 was down five per cent, on a constant currency basis.
The vaccines and blood products supplier still managed to lift revenue by two per cent to $US10.56 billion ($A15.03 billion).
"Our plasma collections were impacted by the pandemic in FY21, constraining subsequent sales of core plasma therapies in FY22, given the long-term nature of our manufacturing cycle," CEO Paul Perreault said in a statement.
CSL grew plasma collections significantly as the 2021/22 year progressed, albeit at a higher cost, and expects this to underpin strong sales growth of its core products - immunoglobulin and albumin - going forward.
CSL reported a strong performance in its flu vaccines business Seqirus, with seasonal influenza vaccine sales jumping 16 per cent in the year.
The company declared a partly-franked final dividend of $US1.18 per share, leaving the total dividend for the year steady at $US2.22 a share.
CSL expects the rebound in plasma collections seen during the second half of 2021/22 to bolster sales and profit growth in the current financial year.
It's net profit for f2022/23 is expected to range between $US2.4 billion and $US2.5 billion ($A3.4 billion and $A3.6 billion).
The outlook excludes any impact from the $US16 billion ($A23 billion) acquisition of Switzerland-based Vifor Pharma, which it completed earlier this month.
By 1020 AEST, CSL shares were down nearly three per cent to $287.60 in a generally flat Australian market.
CSL SOLID FY RESULTS
* Net profit down 6 pct to $US2.26bln ($A3.22 bln)
* Total revenue up 2 pct to $US10.56 bln ($A15.03 bln)
* Final divided $US1.18 per share, partly franked
