CSL Shares Fall 11% After First-Half Net Profit Misses Estimate

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000CSL Ltd. shares dropped after the Australian biotech posted an 81% drop in first-half profit, as a new interim chief executive officer takes charge amid asset write-downs, weaker vaccine markets and a years-long slide in investor confidence.Net profit after tax fell to $401 million in the six months ended Dec. 31, weighed down by restructuring costs and impairments, the Melbourne-based company said Wednesday. Shares slid as much as 11% in early trading Wednesday after the result fell well short of the $1.63 billion average estimate of analysts.