GLOBAL plasma therapies supplier CSL said full-year net profit fell 11 per cent after the company suffered a $116 million hit from unfavourable foreign exchange rates. CSL's net profit for the year ended June 30 was $940.6 million, down from the previous year's net profit of $1.05 billion, and was below the average of seven analysts' expectations of $952.8m, The Australian reported.
The company said its sales revenue for the year was $4.19bn, down 6 per cent from the previous year's $4.46 billion. "This is an impressive result in what has been a turbulent period," managing director Brian McNamee said in a statement. He warned foreign currency issues could impact on the company's 2011-12 result. "The US dollar is currently trading at historic lows against the Swiss franc and should current rates prevail throughout the fiscal year we anticipate a foreign exchange headwind to fiscal 2012 reported profit," he said.