Hikma first half EPS beats expectations; raises guidance
Jordan-headquartered drugmaker Hikma Pharmaceuticals (HIK: LSE) this morning (August 21) reported financial results for the first half of 2013, showing that earnings per share rose 19.2% to $0.62, versus consensus expectations of $0.52. Earnings before interest, tax, depreciation and amortization (EBITDA) came in at $182.6 million, a rise of 76.1% on the like 2012 period.
Group revenue increased 19.9% to $638.3 million, and the company raised full year group guidance to around 20% revenue growth. Group adjusted operating margin rose to 29.6%, up from 15.7%, reflecting significant improvement in Generics and Injectables margins, Hikma noted. Profit attributable to shareholders increased 82.1% to $73.6 million. On an adjusted basis, profit attributable to shareholders rose 157.2% to $121.2 million. Net cash flow from operating activities increased by $88.9 million to $136.0 million.
Divisional performance
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