Hikma 2020 financial results disappoint
London-listed Hikma Pharmaceuticals (LSE: HIK) today reports its preliminary audited results for the year ended December 31, 2020, that disappointed and saw the firm’s share fall 7.9% to 2,227 pence in early trading.
Hikma reported core operating profit of $566 million, which missed a consensus forecast for $574 million. Group sales for the year were $2,341 million, just a fraction above consensus forecasts fo $2,340 million.
Core Group revenue growth of 6%, reflected growth in all three businesses, said Hikma. Core operating profit was up 11%, driven by strong growth in profit of Generics, with sales of $744 million, and Injectables, at $977 million, Branded sales were $613 million.
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