- Hikma Pharmaceuticals' revenue jumps 8% in the fiscal first half.
- The pharmaceutical firm posts £209.50 million of pre-tax profit in H1.
- The London-based company upgrades its guidance for two of its divisions.
Hikma Pharmaceuticals (LON: HIK) said on Friday that demand for its injectable products was strong in recent months. Consequently, its pre-tax profit in the first six months of the fiscal year jumped 21%. The company also upgraded its guidance on Friday for its generics and injectables divisions. Hikma Pharmaceuticals issued £382 million worth of Eurobonds last week due in 2025.
Shares of the company gained roughly 5.5% in premarket trading on Friday. The gain continued on market open as the stock jumped another 4%. Hikma Pharmaceuticals is currently trading at £24 per share that represents a 40% growth from its low of £17 per share in March when the novel flu-like virus wreaked havoc on global industries.
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Hikma posts £209.50 million of pre-tax profit in H1
Hikma announced £209.50 million of pre-tax profit in the fiscal first half as compared to £172.80 million in the same period last year. Learn more about profit and loss statements.
Its revenue in the six months that concluded on 30th June came in at £860 million that translates to an 8% growth on a year over year basis. Hikma also highlighted on Friday that it generated a total of £370.80 million of revenue from its injectables division alone. Its peer, Novo Nordisk, reported £1.28 billion of net profit in the second quarter on Thursday.
In terms of core operating profit, the multinational pharmaceutical company saw a 15% increase on an annualised basis in H1 to £217.13 million. For the full-year, Hikma now forecasts its injectables business to generate a revenue of £726.32 million to £749.26 million. It expects its core operating margin to lie in the range of 38% to 40% for the full year.
Hikma’s full-year forecasts for its generics division
From its generics business, the London-based firm added, it anticipates to generate £550.50 million to £581 million of revenue and an about 21% of core operating margin. The company expressed plans of launching Advair Diskus before the end of the financial year.
Hikma Pharmaceutical’s board declared a 12.23 pence per share of interim dividend. In the comparable period of 2019, Hikma had announced a slightly lower 10.70 pence of interim dividend per share.
Hika Pharmaceuticals performed fairly upbeat in the stock market last year with an annual gain of more than 20%. At the time of writing, it is valued at £5.53 billion and has a price to earnings ratio of 15.76.