CSL Limited Provides Market Update on Fiscal Year Forecast Profit
Melbourne, Australia - CSL Limited (ASX:CSL) has released an update regarding the impact of foreign currency movements on its fiscal year (FY) 23 forecast profit. The company now expects a larger foreign currency headwind than previously anticipated, resulting in a revision of its profit forecast. However, the constant currency profit guidance for FY23 remains unchanged.
The foreign currency headwind is now expected to range between USD $230 million to $250 million, an increase from the initial estimate of USD $175 million disclosed during the half-year result. Despite the impact of currency fluctuations, CSL maintains its constant currency profit guidance for FY23, although it is now more likely to align with the upper end of the projected range.
CSL also acknowledges the wide range of profit projections for FY24 published by various analysts. The company plans to finalise its budget for the next fiscal year and anticipates that its net profit after tax and before amortisation (NPATA) will grow by approximately 13-18% at constant currency, amounting to approximately USD $2.
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9 billion to $3. 0 billion.
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