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Hikma Pharmaceuticals profit rises on cost cuts, revenue growth

By BFN News | 09:24 AM | Thursday 27 February, 2020


Hikma Pharmaceuticals reported a rise in profit as cost cuts and higher revenue underpinned performance. For the year ended 31 December 2019, pre-tax profit rose to £49m1 from £293m on-year as revenue climbed 7% to £2.2bn. The injectables core revenue was up 7% driven by 'strong' demand and recent product launches. The full-year dividend was 44 cents per share, up from 38 cents per share on last year. Looking ahead, the company said it expected =injectables revenue to grow in the low to mid-single digits in 2020, with core operating margin to be in the range of 35% to 37%. Its generics business was expected to generate revenue within a range of $700m to $750m, with operating margin of around 20%. 'Our guidance assumes that we will launch generic Advair Diskus in the second half of the year and we have included revenue of $20 million to $40 million from generic Advair Diskus in this range,' Hikma said. 'If we do not launch generic Advair Diskus in 2020, we would expect the core operating margin for the Generics business to be between 16% and 18%. ' At 9:24am: (LON:HIK) Hikma Pharmaceuticals PLC share price was +62.5p at 1888p Story provided by StockMarketWire.com

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