CSL Delivers Solid Result In Line With Expectations, With Seqirus Still On Track
Narrow-moat CSL delivered a solid result with underlying net profit after tax, or NPAT, of USD 1.3 billion on group revenue of USD 6.9 billion, up 24% and 15% year on year, respectively, on a constant-currency basis. NPAT was slightly ahead of our expectations of USD 1.29 billion. Â Our fair value estimate for CSL moves to AUD 134 per share, down from AUD 141 per share, after adjusting for currency movements--namely an AUD/USD exchange rate of 0.79--but our operating results are unchanged. At cur...CSL is engaged in the research, development, manufacture, marketing and distribution of biopharmaceutical and allied products. Co.'s operations are divided into three segments: CSL Behring, Seqirus, and CSL Intellectual Property. CSL Behring is engaged in manufacturing, marketing and developing plasma therapies (plasma products and recombinants). Seqirus is engaged in manufacturing and distributing non-plasma biotherapeutic products. CSL Intellectual Property is engaged in the licensing of intellectual property of Co. to unrelated third parties. Co. operates primarily in five specific geographic areas, namely Australia, the U.S., Germany, Switzerland, and the U.K.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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