<WIRE> CSL (ASX:CSL) Jumps Significantly Due to Strong Outlook and Profit Beat

Australian biotechnology giant CSL (ASX:CSL) has seen a rise up to 3.2% to A$271.500, marking its largest intraday percentage jump since November 11.

CSL, infamous for being the country’s most expensive stock, has reached its highest point since July 6, landing it among the top gainers in the ASX 200 benchmark index.

An 8% jump in FY23 NPAT attributable on a constant currency basis to $2.44 billion has been logged, with a revenue increase of 31% at $13.31 billion on a constant currency.

Its FY23 statutory NPAT attributable on a constant currency reached $2.61 billion, an increase of 10% from the previous year, surpassing the Visible Alpha consensus of $2.54 billion.

The FY24 profit on a constant currency is expected to be between $2.9 billion and $3.0 billion, with a revenue growth of between 9%-11%.

Despite these positive forecasts, CSL had seen a decrease of 8.6% this year, as of the last close, in contrast to the 3.4% increase in the ASX 200 benchmark index.

CSL is a biotechnology company specializing in researching, developing, and distributing biotherapies.

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