Biopharmaceutical group CSL has flagged another $950 million share buyback after lifting its full year profit to $US1.31 billion ($A1.42 billion).
The eight per cent profit growth beat its own guidance and was driven by demand for the company's blood-derived therapies, in which it is the world's second-biggest player.
The standout was its Hizentra infection-fighting blood product, with which patients can inject themselves once a fortnight to tackle immune deficiency problems.
Chief executive Paul Perreault forecast net profit growth of 12 per cent for the 2014/15 financial year, and earnings before interest and tax (EBIT) growth of about 15 per cent.
Shares in CSL, among the 20 biggest stocks on the ASX, gained $1.69, or 2.6 per cent, to $67.24.
Mr Perreault said another buyback program similar to its nearly completed $950 million program would be considered, with low interest rates and cheaper financing part of the motivation.
He said CSL's "star performer" Hizentra should again grow sales after gaining approval to treat immune deficiency in Japan, opening up a large new market, and possible approval for a new product that can be injected once every three weeks.
That product will face more competition this year from rival developer Baxter.
"They will be very competitive in the new patient space but we wouldn't expect (existing) patients to switch," he told reporters.
"It is well controlled and well done ... We had 19 per cent growth this past year and don't think it will tail off significantly."
A positive sign for CSL was extra spending in the world's wealthier OECD countries on health care, including the rarer haemophilia diseases, he said.
China's importance as a health market for CSL was also increasing after a decade there, he said, with a 29 per cent jump in that country in sales of Albumin, used to treat various problems including burns and trauma.
Sales of its vaccine products, which used to be the company's sole focus, declined four per cent to $433 million through a reduction in European sales and competition.
Mr Perreault said competition in the medical space was strong, but was confident CSL was sufficiently diversified, both in terms of geography and its growing suite of products, to perform well in the future.
CSL POSTS HEALTHY PROFIT ON BLOOD PRODUCTS
* Net profit of $US1.3b, up 7.8 pct from $US1.2b in 2012/13
* Revenue of $US5.5b, up 8.7 pct from $US5.1b
* Final dividend of 60 US cents per share, up from 52 cents
