CSL Limited (ASX: CSL) is one of the biggest companies on the ASX, both by share price and market capitalisation.
That means historically, it's likely been considered among the market's more stable shares.
And in staying true to that, the best day ever experienced by the CSL share price saw it gain a respectable, but not altogether awe-inspiring, 12.49%.
So, what spurred the record gain in CSL shares? Let's take a look.
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The CSL share price's best day on the ASX
On 18 January 2017, the CSL share price finished the day at $99.12. Then, the following day it closed a whopping 12.49% higher at $111.50.
The company's best share price performance ever was spurred by the type of announcement most shareholders wish for — a profit upgrade.
On the morning of that January Thursday, CSL announced it expected to report a net profit after tax (NPAT) of around US$800 million for the 6 months ended 31 December 2016.
That was after adjusting for the one-off gains and costs associated with CSL's acquisition of the Novartis influenza vaccines business, and a US$20 million currency exchange headwind.
Combining the company's earnings for its first half of the 2017 financial year with ongoing expectations, led it to believe it would report NPAT growth of between 18% to 20% on a constant currency basis for FY17.
That was up from its previous guidance, wherein it expected to report NPAT growth of around 11%.
The unexpected increase in the company's profits came from strengthened sales for the first half of FY17. Particularly, sales of its immunoglobulins and specialty products.
Coming back to reality, it's hard to ignore how much CSL's business has grown since 2017.
The CSL share price is now another 173% higher. It finished yesterday's session trading at $305.08.
Additionally, in its results for the first half of FY21, the company posted US$1.81 billion of NPAT. Not bad for just 4 years of growth.
