Latest stock market news videos & Morning Bell

The biggest blood therapy company in the world and the second biggest vaccine company, CSL (ASX:CSL) reported its FY21 results.

CSL reported its NPAT jumped 13% to US$2.375 billion. This is 2% above market expectations. Profit growth was boosted by CSL’s Seqirus division, its flu vaccine business, which saw a 30% revenue boost. However, CSL’s Behring division, its blood therapy business, was severely impacted by COVID-19 restrictions.

CSL’s group revenue rose 13% to US$10.3 billion, while CSL’s cashflow from operations surged 46% to US$3.6 billion.

CSL declared a final dividend of US$1.18ps (AU$1.61ps), payable on 30th September. CSL’s total full year dividends increased 10% to US$2.22 per share.

CSL’s FY22 outlook views profit to fall between US$2.15 billion to US$2.25 billion.

CSL is a Morgan Stanley, Macquarie, Citi and Credit Suisse HOLD stock. UBS and Morgans have CSL as a BUY stock.

CSL shares surged to $302.80, at its highest level since June. However, traders quickly took profits, and CSL is now trading at $294.83.