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CSL Share Price Jumps On Profit

The CSL Limited (ASX:CSL) share price jumped 3% on Wednesday after the global biopharmaceutical company released its 2018 financial results. 
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Owen Raszkiewicz

Owen is the Chief Investment Officer of Rask Invest and Founder of Rask. Since founding The Rask Group in 2017 in the hillside suburb of Upwey, Victoria, Owen has overseen the growth of the Rask platform to over 200,000 investor followers. He holds a Master's Degree of Applied Finance, Master's Degree of Financial Planning, and Bachelor's Degree in Technology.
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The CSL Limited (ASX: CSL) share price jumped 3% on Wednesday after the global biopharmaceutical company released its 2018 financial results.

Indeed, investors wasted no time in sending the $95 billion Melbourne-based company higher on Wednesday after it reported a $1.7 billion profit and a final dividend of $US0.93 cents per share.

CSL Limited’s CEO, Paul Perreault, said he was “pleased” with the 2018 result but expected more growth over the coming year.

“We are proud of our achievements this year, and looking forward to continuing our work in the year ahead,” Perreault said.

With the supply of blood plasma falling short of demand, CSL will open new collection centres in an attempt to boost supply of its key ingredient. In the meantime, the shortfall could help CSL improve profit.

CSL’s 2019 profit is expected to grow as much as 14% on its 2018 result to as much as $1.95 billion, subject to market conditions.

Read the full report: CSL posts $1.7b profit, dividends jump

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