Hikma rises as it ups full year guidance on strong first-half
Hikma Pharmaceuticals (LSE: HIK) saw its London-listed shares rise as much as 10% to 1,812.5 pence in early trading, after the Jordan-based generics drugmaker reported strong interim results for the six months ended June 30, 2018.
- Group revenue of $989 million, were up 11% and in constant currency up 10%.
- Operating profit of $174 million was up 54%.
- Core group operating profit of $214 million was up 22% and up 23% in cc.
- Core basic earnings per share of $0.61 were up 35% and up 38% in cc.
- Basic earnings per share of $0.44.0 rose 53% and were up 57% in cc.
- Full-year 2018 guidance raised for Injectables and Generics businesses and reiterated for Branded business.
Hikma expects full-year revenue at its injectables business to be $775 million to $825 million, higher than its prior forecast of $750 million to $800 million, while margins are seen in the mid to high 30s percent, up from low-to-mid 30s.
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