Libyan civil war hurts Hikma

25th Aug 2011 10:27

Disruption in Libya and Yemen contributed to a fall in profits at pharmaceuticals group Hikma in the half year to 30 June.Gross profit fell to $172.6m from $178.5m over the same period the previous year, on revenues that climbed to $394.8m from $377.7m.Gross profits in the company's branded products division fell by $3m to $99.2m due to "lost sales in Libya and Yemen and action we took to increase salaries and employee benefits across the MENA (Middle East and North Africa) region to minimise the impact of market disruptions."Hikma said it is only now beginning to see a recovery in Libya following protracted tensions.Hikma's products include anti-histamines, anti-invectives and dermatological treatments.At 10.40am, shares in the company were down by 2% at 603.5p.---RG