CSL Ltd's board has admitted the financial performance of the business has been disappointing, but vowed to do better ahead of the company's upcoming annual general meeting.
We recognise this, and the management team is acting with urgency to earn back the confidence of shareholders through results.
CSL shares were 1 cent lower at $174.40 on Thursday.
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CSL Ltd's board has admitted the financial performance of the business has been disappointing, but vowed to do better ahead of the company's upcoming annual general meeting.
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CSL Ltd's board has admitted the financial performance of the business has been disappointing, but vowed to do better ahead of the company's upcoming annual general meeting.
In the notice of meeting lodged with the ASX, CSL chair Brian McNamee said the past year had been one of "significant change" for the blood products company, "and the board acknowledges that many shareholders are frustrated with the recent disappointing commercial and financial performance of the company''."
We recognise this, and the management team is acting with urgency to earn back the confidence of shareholders through results.
Mr McNamee said the company's core markets remained attractive, and the business was resilient and delivering strong cash flows.
Mr McNamee said the board was encouraged by the early positive results of changes carried out by the management team.
CSL shares were 1 cent lower at $174.40 on Thursday.
Brokers are now positive on the outlook for CSL following the company's August results release.
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