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FINANCIAL NEWS
Jordanian Hikma records USD1.49b revenue for 2014
12 Mar 2015
(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.
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