LONDON (dpa-AFX) - Hikma Pharmaceuticals PLC (HIK) on Thursday reported profit before tax of $215 million for the first half, lower than $319 million in the year-ago period.
Excluding one-time items, core profit before tax decreased to $262 million, from $285 million last year, due to an increase in net debt and interest rates.
Profit for the period declined 30% $173 million or 75.9 cents per share from $248 million or 106.9 cents per share a year ago.
Excluding one-time items, core profit declined 6% to $209 million or 91.7 cents per share from $223 million or 96.1 cents per share last year.
Revenue was $1.213 billion, flat with $1.216 billion last year, as growth in Injectables and Branded businesses offset a decline in Generics.
Additionally, the company's Board has recommended an interim dividend of 19 cents per share to be paid on September 19 to shareholders on the register as on August 19.
Looking forward to the full year, the company expects revenue growth of mid to high-single digits for Injectables, mid-single digits, on a constant currency basis, for Branded and in the range of $650 million to $675 million for Generics.
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