LONDON (dpa-AFX) - Multinational pharmaceutical company Hikma Pharmaceuticals plc (HIK, HIK.L), on Thursday, reported H1 statutory profit attributable to shareholders of $226 million, a jump of 73%, compared to $131 million last year. Basic earnings surged to 102 cents per share from 59 cents per share earned a year ago.
Core profit attributable to shareholders was $283 million or 128 cents per share versus $284 million or 129 cents per share in the prior year period.
Revenue for the period amounted to $1.57 billion, 10% higher than the previous year's revenue of $1.43 billion, driven by growth in all three business segments.
Riad Mishlawi, Chief Executive Officer of Hikma, said, 'We had an excellent first half of the year. All of our businesses contributed to our strong performance, delivering 10% Group revenue growth. We launched new products across all regions, entered new markets in Europe, and further strengthened our leadership team. The outlook for 2024 remains strong and we are pleased to upgrade Group revenue and profit guidance.'
Looking ahead, the company now sees FY24 group revenue growth of 6% - 8%, up from the previous guidance of 4% - 6%, and group core operating profit of $700 million - $730 million, up from the prior outlook range of $660 million - $700 million. Hikma now expects Group capital expenditure to be in the range of $140 million - $160 million.
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