Hikma Pharmaceutical delivers year of 'solid growth'

Hikma said full-year revenues were 9% year-on-year at $2.55bn, while operating profits ticked up 1% to $582.0m and earnings per share were broadly flat at 182.3p

Core operating profits were up 12%, driven by a further step up in margin over at its generics unit, while core profit attributable to shareholders was up 10% at $450.0m.

However, pre-tax profits at the FTSE 100-listed firm edged down 2.5% to $544.0m.

Hikma highlighted that it had maintained a "healthy balance sheet", with net debt of $420.0m and low leverage at 0.6x net debt to core underlying earnings, and that it had also hiked its total dividend per share by 8% to 54.0p.

Chief executive Siggi Olafsson said: "Hikma delivered strong financial results in 2021, marking another successful year of solid growth and continued strategic momentum. Our operational strength and high-quality standards ensured our ability to provide customers with a consistent supply of essential medicines in a challenging environment."

As of 0810 GMT, Hikma shares were down 4.20% at 1,928.50p.