Published: June 13, 2023 at 6:06 PM ET
SYDNEY–Pharmaceutical company CSL expects net profit to rise in fiscal 2024, despite telling investors that currency headwinds have intensified in recent months.
CSL said its provisional net profit forecast for the 12 months to June 2024 is between $2.88 billion and $3.01 billion, assuming no year-over-year exchange rate changes. If achieved, it will grow by 13-18% in FY2023.
Updating…
By David Winning
SYDNEY–Pharmaceutical company CSL expects net profit to rise in fiscal 2024, despite telling investors that currency headwinds have intensified in recent months.
CSL said its provisional net profit forecast for the 12 months to June 2024 is between $2.88 billion and $3.01 billion, assuming no year-over-year exchange rate changes. If achieved, it will grow by 13-18% in FY2023.
CSL updated investors on its expected financial results for fiscal 2023 and said it now expects currency headwinds of $230 million to $250 million. That was up from $175 million announced during the company’s first-half earnings release in February.
“Our 2023 constant currency earnings outlook is biased towards the high end of the range, but remains unchanged,” CSL said in a regulatory filing on Wednesday.
Email David Winning (david.wining@wsj.com).