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Hikma Pharma H1 Pretax Profit Rises; Core Group Revenue Up 9% - Quick Facts

Hikma Pharmaceuticals (HIK) reported profit before tax of $274 million for the six months ended 30 June 2020 compared to $226 million, prior year. Earnings per share in cents was 87.2 compared to 76.1. Core profit attributable to shareholders increased by 17% to $205 million. Core earnings per share increased by 17% to 84.8 cents.

First half core revenue was $1.13 billion, up 9% from a year ago. The company said the increase in core Group revenue reflects growth in all three businesses. Injectables core revenue increased by 13% to $485 million. In constant currency, Injectables core revenue grew by 14%. Generics revenue was $369 million compared to $368 million. On a reported basis, Branded revenue was $275 million, up 14%. On a constant currency basis, Branded revenue increased 13%.

For 2020, the company now expects Injectables business to deliver revenue of between $950 million and $980 million, compared with previous guidance of low to mid-single digit growth. The company now expects Generics revenue to be in the range of $720 million to $760 million, up from $700 million to $750 million. The company continues to expect Branded revenue to grow in the mid-single digits in constant currency in 2020.

The Board recommended an interim dividend of 16 cents per share (approximately 12 pence per share). The interim dividend will be paid on 21 September 2020 to eligible shareholders on the register at the close of business on 21 August 2020.

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