By Mike Cherney

SYDNEY--CSL Ltd.'s pace of plasma collections is expected to exceed pre-coronavirus levels in coming months, reversing a decline earlier in the pandemic when lockdowns and other restrictions made it difficult for people to donate, Chief Executive Paul Perreault said in an interview.

Australia-based CSL runs one of the largest networks of plasma-collection centers in the U.S. and plasma-derived products make up much of the company's revenue. The therapies can be lifesaving for patients suffering from immune disorders and other conditions. Many need immunoglobulin, which contains antibodies harvested from plasma.

CSL reported earnings for its fiscal year 2021 ended June on Wednesday and said that plasma collection fell 20%. It can take months for raw plasma to be manufactured into immunoglobulin, so that decline will impact FY 2022 earnings. The company said it expects net profit in FY 2022 to be in the range of US$2.15 billion-US$2.25 billion, compared with FY 2021's net profit of US$2.37 billion.

Despite the decline in collections, Mr. Perreault expects the pace of plasma collections to exceed 2019 levels around December. He cautioned that is dependent on many factors outside the company's control, including the Delta variant of the coronavirus, which is leading to a surge in cases in the U.S. But he said there is no evidence that Delta is impacting collections right now.

Some analysts have been closely tracking foot traffic around CSL plasma-collection centers to get a sense for the volume of collections. After Wednesday's earnings result, some analysts said they expected the stock to trade lower due to the weaker guidance and concerns around collections. CSL's Australia-listed shares were about 2% lower in midday trade Wednesday.

CSL, which pays people to give plasma, has implemented several initiatives to increase donations, including raising fees paid to donors. The company has also enhanced marketing to attract new and lapsed donors and adopted new technologies such as a donor app. It has also reduced its hold period on recently collected plasma from 60 to 45 days.

The company opened 25 new plasma collection centers in FY 2021 and plans to open up to 40 new centers in FY 2022. Prior to the pandemic, plasma collections had been rising annually as companies increased their network of collection centers.

"We will return to growth," Mr. Perreault said. "This is a blip for us and our strategy remains intact. Our investors expect us to grow, I expect us to grow."

Any decline in plasma collections can be worrying for patients who need plasma-derived therapies. Mr. Perreault said there hasn't been any noticeable shortages in the U.S., in part because competitors have moved in some product, though supply in other places like Europe and emerging markets has been tighter.

CSL also warned that increased plasma-collection costs will hurt margins going forward.

Write to Mike Cherney at mike.cherney@wsj.com

(END) Dow Jones Newswires

08-18-21 0047ET