Take our word for it: a little opacity is a good thing. That seems to be the message CSL's management wants to convey. The company recently held a briefing on August's $16 billion acquisition of Vifor, a Swiss drug maker focused on dialysis, haematology and iron deficiency. We came away fixated on one presentation slide that had nothing to do with sales, research or Vifor.
On slide 22, chief financial officer Joy Linton described how CSL would change the way it reports earnings for its various operating segments.
Previously, it reported earnings before interest and tax (EBIT) for its different divisions, making it
