Business
Preliminary Announcement for
Preliminary Announcement for.
About this update from Hikma Pharmaceuticals Plc
[{"type":"text","content":"\n RNS Number : 7003I Hikma Pharmaceuticals Plc 17 March 2010 \n \n\nPRESS RELEASE \n \n \nHikma's diversified business delivers record sales and 36% earnings growth in 2009\n \n17 March 2010 - Hikma Pharmaceuticals PLC (\"Hikma\") (LSE: HIK) (NASDAQ DUBAI: HIK), the fast growing multinational pharmaceutical group, today reports its preliminary results for the year ended 31 December 2009.\n \n\n\n\n\nSummary P&L ($ million)\n\n\n2009\n\n\n2008\n\n\nChange\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nRevenue\n\n\n636.9\n\n\n580.7\n\n\n+9.7%\n\n\n\n\nGross profit\n\n\n304.4\n\n\n256.5\n\n\n+18.7%\n\n\n\n\nOperating profit\n\n\n107.3\n\n\n80.7\n\n\n+33.0%\n\n\n\n\nProfit attributable to shareholders\n\n\n77.7\n\n\n57.1\n\n\n+36.0%\n\n\n\n\nDiluted earnings per share (cents)\n\n\n40.1\n\n\n29.6\n\n\n+35.5%\n\n\n\n\n \n2009 Highlights\n· Delivered high quality sales growth\no Revenues up 12.5% on a constant currency basis(1)\no Branded growth continued to outperform the MENA market\no Generics sales growth evidences successful turnaround\no Strong pick up in Injectables sales in the second half of the year\n \n· Control of costs across the Group, while investing for future growth\no Gross margin improvement to 47.8%, up from 44.2% in 2008, ahead of management expectations for the year\no Operating margin increased to 16.8%, up from 13.9% in 2008\n \n· Continued new product delivery across all countries and markets\no 129 products launched\no 114 product approvals\n \n· Excellent working capital management\no Significant increase in operating cash flow to reach $119.0 million\no Strong growth in cash conversion to 18.7% of sales, compared to 12.9% in 2008\n \n· Strong balance sheet\no Net debt decreased by $54.0 million through ...