But the blood products and vaccine giant's operating expenditures were also higher than expected.
CSL said on Tuesday that its net profit for the year to June 30 was up 20 per cent to $US2.6 billion ($A3.95 billion), and declared an unfranked dividend of $US1.45 ($A2.20) per share.
"I am pleased to report a strong result for the 2024 financial year led by CSL Behring," said chief executive and managing director Dr Paul McKenzie.
"Our largest franchise, the immunoglobulins portfolio, delivered exceptional growth driven by significant patient demand and the recovery in CSL Behring's gross margin is progressing to plan."
CSL Behring now accounts for nearly half of the company's revenue. (Mal Fairclough/AAP PHOTOS)
Investors seemed less pleased, however. In early trade, CSL shares were on track for their worst daily performance since February 12, down 3.1 per cent to $299.51.
RBC Capital Markets analyst Craig Wong-Pan said CSL's $US14.8 billion in revenue was slightly head of consensus forecasts of $US14.69 billion, and its final dividend was also above expectations.
But CSL's $US1.4 billion in research and development spending and $US825 million in general and administrative operating expenses were also above expectations, Mr Wong-Pan said.
"We believe the market will likely view the FY24 numbers as slightly disappointing given the higher than expected opex," he wrote in a client note, using jargon for operating expenditures.
Saxo Asia Pacific senior sales trader Junvum Kim on the other hand called it "outstanding" full-year results for Australia's third-biggest public company by market capitalisation.
He noted CSL's net income had increased 20 per cent year over year, growth largely attributable to the robust performance of immunoglobulin therapy in the CSL Behring, which now accounts for nearly half of company revenue.
"Additionally, ongoing advancements in yield initiatives within the plasma manufacturing process are expected to greatly improve capital efficiency," Mr Kim said.
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