Hikma delivers group revenue growth of 23% and EPS up 111% for 2013

Jordon-headquartered Hikma Pharmaceuticals (LSE: HIK) today reported its preliminary results for the year ended December 31, 2013, showing that group revenue increased 23% to $1,365 million, driven by strong underlying growth and doxycycline sales.

Group adjusted operating margin rose to 30.3%, up from 17.5%, reflecting significant improvement in Generics and Injectables margins.Profit attributable to shareholders increased 112% to $212 million. On an adjusted basis, profit attributable to shareholders rose 128% to $274 million, well beating analysts’ consensus forecasts of $198 million. Basic earnings per share increased 111% to 107.6 cents per share, versus consensus of 128 cents. Hikma’s shares advanced 4.3% to £15.24 in mid-morning London trading.

The group said revenue for the 12-month period would now be around 23% above the prior year, compared to previous guidance of around 20%.