CSL shares have soared to a record high after the blood products and vaccines supplier posted a 29 per cent jump in full-year profit to $US1.73 billion ($A2.39 billion).
Sales revenue for the year to June 30 also rose, up 14.7 per cent to $US7.59 billion.
The results were slightly ahead of the guidance provided by the company in May.
Its vaccines firm, Seqirus, delivered its first profit three years after it was formed, following a severe flu season in the United States.
Influenza vaccine sales grew 53 per cent at current currency – which removes the impact of foreign exchange fluctuations – as the company quadrupled production of the vaccine doses at its North Carolina facility.
Sales for the FLUAD flu vaccine – for people over the age of 65 – grew by 142 per cent.
“You sell most of the product before you understand what the (flu) season’s going to be,” managing director Paul Perreault told reporters on Wednesday.
“I would say that it did help, but I also think its the product mix that we’ve had.”
CSL’s speciality products portfolio, which includes drugs that treat conditions including emphysema, haemophilia and angioedema, was a “star performer”, with sales growing by 24 per cent.
Mr Perreault called Haegarda, a new drug launched this year to treat angioedema – a hereditary condition that can cause swelling of the face, abdomen and limbs – a “game changer”.
“Haegarda was the most successful product chronic drug launch in the US in the past five years, achieving 50 per cent market share in under a year,” he said.
The company also commenced a phase three clinical trial of CSL112, which if successful, will reduce early recurrent cardiovascular events in heart attack survivors.
It expects 2018/19 net profit in constant currency terms to be in the range of $US1.88 billion to $US1.95 billion, an increase of 10 to 14 per cent from last year.
But Mr Perreault acknowledged trade uncertainty was a concern, particularly for US-made products imported into China.
“It’s hard for me to predict, I don’t have a crystal ball, all I can say is we stay very close to it to make sure we understand what the movements are across the governments,” he said.
“We have people on the ground in China, we have a couple hundred people in China … and we have some manufacturing onshore.”
CSL announced a final dividend of 93 US cents per share, compared to 72 US cents per share paid last year.
At 1600 AEST on Wednesday, shares were up 6.2 per cent to $214.09.
CSL PROFIT JUMPS, SHARES SOAR
* Net profit up 29 per cent to $US1.73 billion
* Total revenue up 14.7 per cent to $US7.59 billion
* Final divided 93 US cents per share, unfranked