(MENAFN) Jordan's Hikma Pharmaceuticals Plc registered USD1.49 billion revenue for the full year of 2014, marking a 9 percent increase. However, the firm forecasts a 6 percent revenue growth 2015, Reuters reported.
The Jordanian company said that 2015 revenue would be impacted by around USD45 million, or by 3 percent, that is if current exchange rates continued unchanged.
The firm's pretax profit increased USD362 million in 2014, marking an increase from the USD298 million of 2013 due to a stronger-than-expected performance in the injectable drugs business.
"Earnings upgrades have been a key driver of outperformance over last 24 months, but a sub-par 2H14 performance coupled with a soft 2015 guidance will now break that cycle in our view," Citi analysts said.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.