Investor Alert

Feb. 25, 2021, 2:42 a.m. EST

Hikma profit falls, but beats market views

By Ian Walker

Hikma Pharmaceuticals PLC on Thursday reported a 11% fall in 2020 net profit but still beat market forecasts.

Net profit for the year ended Dec. 31 was $431 million compared with $486 million in 2019 and a consensus of $390.9 million, taken from FactSet and based on four analysts' forecasts.

Revenue for the year was $2.34 billion compared with $2.21 billion. Within this generics revenue was $744 million compared with the company's expectations of between $720 million and $740 million. Core revenue from its injectables business was $977 million, compared with expectations of $950 million to $980 million.

For the year ahead the company expects to report injectables revenue growth in the mid-single digits, with core operating margin in the range of 37% to 38%. Generics revenue is expected to be in the range of $770 million to $810 million, with a core operating margin of around 20%.

The board declared a total dividend for the year of 50 cents a share, up from 44 cents in 2019.

Write to Ian Walker at ian.walker@wsj.com

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