Australia's CSL stands by profit guidance due to strong demand for blood products [Reuters]
CSL LTD SP/ADR (CSLLY)
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Source: Reuters
Australia's CSL stands by profit guidance due to strong demand for blood products (Reuters) - Australian plasma and vaccine specialist CSL Ltd said it was standing by profit guidance for the current business year due to strong demand for its products amid the coronavirus pandemic. It expects $2.11 billion to $2.17 billion in net profit attributable to shareholders for the year to end-June 2020, up from $1.92 billion a year earlier. Shares in CSL were 1.5% higher in late morning trade, giving the blood products giant a market capitalisation of A$143.6 billion ($89 billion). The Melbourne-based firm said that at present there is no interruption to its supply chain and that its facility in Wuhan, China has resumed operations. Plasma collections, however, are like likely to experience disruptions due to restrictions on people’s movements imposed by governments due to the pandemic, it added. “Whilst there are challenges to the logistics of plasma collection due to CVD 19, investors continu
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