CSL Shares Tumble to Eight-Year Low After First-Half Profit Miss

CSL Ltd., Australia’s largest healthcare company, fell to an eight-year low after posting an 81% drop in first-half profit, as its new interim chief executive takes charge amid asset write-downs and weaker vaccine markets.

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 12% in early trading Wednesday after the result fell well short of the $1.63 billion average estimate of analysts.