Drugmaker Hikma reports higher annual profit

Feb 22 (Reuters) - British drugmaker Hikma Pharmaceuticals HIK.L, on Thursday, beat profit expectations for the year, helped by strong performance of its branded and generics businesses.

The company reported a 19% rise in core operating profit for the year ended on Dec. 31 to $707 million. It expects a profit of $660 million to $700 million for this year.

Analysts on average expected core profit for 2023 to be about $689 million, while they forecast 2024 numbers to be about $680 million, according to a company compiled consensus.

(Reporting by Radhika Anilkumar in Bengaluru; Editing by Savio D'Souza)

((Radhika.Anilkumar@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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