On the top line, CSL saw sales improve 7% to $5.0 billion. And while revenue headed higher, the company managed to move up its bottom line even further. As EBIT margins grew 2.5 points to 29.1%, EBIT grew 17% to $1.49 billion. The company seems to be doing a better job on its tax report, too, with after-tax net profit up 19%. For investors, all this simmers down to $2.44 EPS, a 24% improvement over 2012’s numbers.
“This is an excellent result and reflects the combined effort of many people across the Company, in particular our immediate past Chief Executive Officer, Dr Brian McNamee,” said new CEO Paul Perrault in a statement today. “The Company’s core products of immunoglobulin and albumin have performed very well and we have strengthened our margins through a change in sales mix and a relentless pursuit of efficiency. Our suite of specialty products grew strongly, supported by the registration in the US of Kcentra, a product used in the urgent reversal of anticoagulant warfarin in patients with acute major bleeding.”
With cash flow from operations up 9%, CSL isn’t taking any short-term shortcuts on its profit prognosis. R&D expanded 16% to $427 million, a sign that the company’s looking out for long-term shareholders. CSL also managed to increase its total 2013 dividends 18% to $1.02.
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Motley Fool contributor Justin Loiseau has no position in any stocks mentioned in this article. You can follow him on Twitter @TMFJLo.