Australia's CSL sees profits jump 46%

Australian medical products firm CSL has reported first-half profits toDecember 2000 up 46% on the back of higher sales and the speedy integration of the A$1 billion ($493.7 million) ZLB Bioplasma acquisition. CSL said net profit after tax rose to A$27.25 million in the six months, up from A$18.6 million in the corresponding year-earlier period.

Chief executive Brian McNamee said the strong performance was the result of CSL's core activities and strong sales of ZLB Bioplasma, which made four months' contribution to first-half profits. CSL bought ZLB from the Swiss Red Cross last year for $525 million and its international growth, helped by the low Australian dollar, boosted profits. CSL's first-half sales rose 60% to A$335.4 million, with international turnover now comprising more than half its revenue.

However, Australian restrictions on blood donations by people who had lived in the UK between 1980 and 1996 have hurt the company's blood plasma unit because of a lower intake by the Red Cross, which was working hard to replace lost donors.