CSL achieves record $1 billion net profit

CSL has announced a half-year profit increase of 3.8 per cent as the world’s second-largest vaccines maker celebrates its 100th birthday.

Business Insider reports that the company’s underlying profit (excluding the acquisition of Novartis) was up 7 per cent.

Revenues were up 10.3 per cent to $US 3.1 billion, and net profit was up 3.8 per cent to $US 718.8 million ($1 billion), a record result.

"CSL delivered an exceptional first half result, led by double-digit sales growth in all of our plasma therapy groups," said CEO Paul Perrault.

The ABC reports that the new Seqirus division, formed through the merger with Noartis, achieved sales of $US 519 million, and is likely to run at a loss of $US 90 million to $US 120 million for the full year.

"With the (Seqirus) deal now closed, a significant multi-year strategy has commenced to integrate this business and turn its performance around," said Perrault.

CSL is a biotherapies company operating in over countries and dates back to the former Commonwealth Serum Laboratories, established in 1916, which supplied the country with sera, vaccines and antitoxins.