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CSL warns profits could slide if dollar remains strong

CSL warns profits could slide if dollar remains strong

Pharmaceutical company CSL has warned that if the Australian dollar remains so strong it could impact profits by over 16%.

If the exchange rates of October 9 remain the same for the rest of the financial year, CSL expects profit of just $970 million to $1.07 billion for the present financial year, company chairman Elizabeth Alexander told investors today.

This compares to a projected $1.16 billion to $1.26 billion based on last year’s exchange rates.

Alexander said the group recorded a 63% increase in profit after tax last financial year, taking in $1.15 billion. Revenue increased 32% to $5.04 billion over the period.

The company has been meeting its sales projections this year, she added.

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Tags financial resultsCSLpharmaceuticals

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