CSL is about to turn 100 and is still increasing profits

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Blood products group CSl, one of Australia’s three $100 plus stocks, has just posted a 3.8% rise in half year profit to $US718.8 million.

Revenue was up 10.3% to $US3.1 billion.

Underlying profit grew 7% after excluding financials relating to the recently acquired Novartis influenza vaccines business.

Seqirus, CSL’s influenza vaccine business, is now the second largest in the world.

CEO Paul Perreault says the company this year marks its centenary as a very different organisation to the one founded in 1916 to ensure Australia had its own supply of sera, antitoxins and vaccines.

Perreault says 2016 earnings per share growth is expected to exceed profit growth.

The $US275 million acquisition of the Novartis influenza vaccines business will create a hole of between $US90 million and $US120 million this financial year.

An interim dividend of 58 US cents a share was declared.

The other two Australia $100 stocks are vitamin maker Blackmores and bionic ear manufacturer Cochlear. CSL last traded at $A104.43, Blackmores at $A161.19 and Cochlear at $A105.22.

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