CSL tightens earnings guidance range

Biotech giant CSL has narrowed its guidance on net profit and expects growth of three to eight per cent.

Chief executive Paul Perreault on Wednesday told the annual general meeting the previous low end of the range of zero per cent had been revised to three per cent. This would give net profit after tax of $2.170 billion to $2.265 billion this financial year.

There was no change to expected revenue growth of six to 10 per cent.

Mr Perreault and his peers said little about efforts to develop a COVID-19 vaccine with the University of Queensland.

However in his outlook commentary, he said subsidiary Seqirus would benefit from governments wanting to protect people from the virus and influenza.

He also expected continued demand for plasma, which the company collects and is used for medicines.

The pandemic has hampered collection.

CSL reported a 9.6 per rise in full-year net profit after tax to $US2.1 billion ($A2.9 billion). Final dividend was $US2.02.

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