Hikma Pharmaceuticals 2014 Profit Surges

Hikma Pharmaceuticals PLC HKMPY reported a rise its 2014 net profit. Hikma Pharmaceuticals' net profit for the year climbed 31% to $278 million from $212 million, while EPS surged to 139.0 cents from 107.1 cents. Adjusted EPS climbed 8% to 149.5 cents. Profit before tax gained 21% to $362 million from $298 million, while adjusted profit before tax jumped 3% to $387 million. Its revenue rose 9% to $1.49 billion. Its operating margin widened to 27.0% from 25.8%, while adjusted operating margin slipped to 28.7% from 30.3%. Net cash flow from operating activities climbed to $425 million. The company's board proposed a final dividend of 15.0 cents per share, and a special final dividend of 6.0 cents per share. Said Darwazah, Chairman and Chief Executive Officer of Hikma, said, "The Group delivered an excellent performance in 2014. During the year, we achieved strong underlying growth, enhanced by specific market opportunities. With the acquisition of the Bedford and Ben Venue assets, continued new product launches and our strong market positions in the US, MENA and Europe, Hikma remains well placed for future growth." For 2015, Hikma Pharmaceuticals projects revenue on a constant currency basis to rise about 6%.