Reuters logo
Shire sees strong earnings growth in 2014
February 13, 2014 / 12:15 PM / 4 years ago

Shire sees strong earnings growth in 2014

LONDON, Feb 13 (Reuters) - Pharmaceutical group Shire said its strong growth would continue this year after soundly beating market expectations for its fourth quarter, with a 36 percent rise in earnings.

The company, which makes drugs for hyperactivity and to treat rare diseases, posted fourth-quarter non-GAAP earnings per ADS of $2.26 on revenue up 12 percent to $1.33 billion.

Chief Executive Flemming Ornskov has made a raft of changes to step up earnings growth since he started last April, including simplifying operations, cutting costs and making acquisitions.

He has been rewarded with a 50 percent rise in the group’s share price in the last 12 months, hitting a record 3,180 pence earlier on Thursday.

The company said it expected earnings in 2014 to grow at a similar level to the 23 percent it recorded in 2013.

Analysts were expecting revenue of $1.3 billion and earnings, in its preferred measure of non-GAAP EPS-ADS, of $2.02, according to a company-compiled poll of 19 brokers.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below