CSL Limited (ASX: CSL), a global name in the bio therapeutics industry, is witnessing a spike in its stock price since the day it announced for its profit upgrade. CSL stock has risen about 14 per cent in last one month (as at January 23, 2017).
In the latest update, CSL reported for strong performance in the sales figures of its immunoglobulins and speciality products for the quarter ending December 2016. Based on the sales numbers, the company now expects the NPAT for the first half of the year ending December 31, 2016 to be around US$800 million, including a FX headwind of roughly about US$20 million. Based on the robust show in the first half, CSL expects NPAT for full year FY17 to grow by about 18 per cent to 20 per cent at constant currency rates compared to FY16. According to the company, the expected NPAT also includes the one-time gains and costs incurred after the company acquired the global influenza vaccines business, Seqirus from Novartis. The upgraded NPAT expectation is almost twice the projected earnings of 11 per cent by the company in August last year.
Investors have given a thumbs-up on the latest result updates from CSL with the shares of the company rallying quite a bit. The company is expected to announce its 1H FY17 results on February 15, 2017.
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