UCB's mixed results and conservative guidance hit share price
Belgian drugmaker UCB (Euronext Brussels: UCB) took a 3% hit to its share price as Thursday's treading neared its end after announcing a mixed set of annual financial results.
The Brussels-based company increased its total revenue by 8% to 4.18 billion euros ($4.42 billion) in 2016, the results showed, though this was well below the figure of 4.47 billion euros predicted by analysts polled by Reuters.
Investors will also note that net profit dropped from 2015’s 674 million euros by 20%, falling to 542 million euros in a decline partly caused by UCB’s 2015 sale of its Kremers Urban unit, which had provided windfall profit.
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