by Chris Becker
One of my favourite corporates, CSL Limited reported its full year results today and is getting slammed as a result. The share price is off more than 5% intraday as the market absorbed the headline reduction in net profit – down a little over 11% because of its purchase of the Novartis vaccine – while ignoring the great fundamentals underneath, including double digit jumps in revenue, 5% increase in underlying profit, increased dividend payouts, a big proposed share buyback combined with a very rosy outlook.
Markets are strange at the best of times, but this is merely mean reversion of a trend that is overcooked:
