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Hikma Pharmaceuticals PLC on Thursday said it continues to expect revenue and profit growth in 2025, despite core operating profit declining in the first half. Shares were down 7.1% to 1,750.44 pence early Thursday in London, the worst performer in the FTSE 100 index. Hikma is a London-based drugmaker with operations in Jordan and the US. Pretax profit rose 2.4% to $295 million from $288 million, thanks to fewer exceptional charges, but core pretax profit declined 6.9% to $338 million from $363 million and core operating profit fell 7.2% to $373 million from $402 million. Core operating profit margin narrowed to 22.5% from 25.6%. Hikma said the decline in core profit was due to a change in distribution of profit across the year, with gross profit for Hikma Rx and Branded having been strongly first half weighted in 2024. It said the decline also reflected changes in product and geographic mix in Injectables. More positively, revenue was up 5.7% to $1.66 billion from $1.57 billion. It was up 5% at constant currency. Within this, Injectables revenue was up 12%, led by a 26% rise in Europe and 16% in Middle East North Africa, while North America saw an 8% increase. Hikma said Injectables revenue was supported by new product launches and the Xellia portfolio. Branded revenue was up 4%, but Hikma Rx revenue was down 1%. ‘We achieved strong revenue growth and built solid momentum across the business,’ commented Chief Executive Officer Riad Mishlawi. ‘While core operating profit was lower due to a strong comparator in 2024 and a change in product mix, we expect a return to growth in the second half and are pleased to reiterate our full-year 2025 guidance for the group.’ Hika kept its 2025 guidance unchanged, expecting 4% to 6% revenue growth and core operating profit of $730 million to $770 million. Revenue was $3.13 billion in 2024, up 9% from 2023, and core operating profit was $719 million. In response, Hikma declared an interim dividend of 36 US cents, up 12% from 32 cents. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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