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Gulf Business
5 days ago
- Business
- Gulf Business
Presight sees H1 revenue rise 80%, lifts outlook on strong backlog
Image: Getty Images/ For illustrative purposes Organic revenue, excluding the contribution from AIQ, grew 33.5 per cent year-on-year. EBITDA increased 59.6 per cent to Dhs245.5m, while net profit rose 18.8 per cent to Dhs209.7m. Q2 revenue climbed 53.5 per cent to Dhs 523.9m, with organic growth accounting for 19.7 per cent. Quarterly EBITDA rose 45.5 per cent to Dhs104.5m and net profit was up 11.5 per cent at Dhs89.7m, reflecting the impact of the 15 per cent corporate tax rate. International markets contributed 26.8 per cent of Q2 revenue, up sharply from 4.9 per cent a year earlier. New orders worth Dhs304 m brought the backlog to Dhs3.7bn, more than triple last year's level. The company ended the period with Dhs2bn in cash and no debt. Presight upgrades guidance Citing strong performance, a robust order backlog and a growing share of multi-year contracts, Presight raised its compound annual growth guidance for 2023-2027: Group revenue growth of 21 to 27 per cent (previously 19 to 25 per cent) Group EBITDA growth of 17 to 22 per cent (previously 16 to 21 per cent) Group post-tax profit growth of 7 to 12 per cent at a 15 per cent tax rate (previously 6 to 11 per cent) Contract wins and overseas push In the UAE, Presight signed contracts with the National Media Office and the Media Council, and agreed a strategic cooperation with the Abu Dhabi Department of Energy to develop an AI-powered energy and water management platform for nationwide deployment. Internationally, the company advanced its growth agenda in Asia and Africa. In Malaysia, it reached a landmark deal supporting the Madani AI initiative, while in Uganda it prepared to roll out a national digital government programme. Presight also opened an office in Astana, Kazakhstan, expanding energy sector partnerships via its majority-owned AIQ unit. 'Our first-half performance demonstrates that Presight continues to grow both domestically and internationally,' said CEO Thomas Pramotedham. 'Our backlog is three times larger than it was a year ago, and our sovereign partnerships continue to deepen. 'Our international expansion across high-growth markets in the Middle East, Asia and Africa… continues to be a material part of our growth trajectory. With disciplined execution, new AI platforms coming to market and a deep pool of talent, we are on track to meet our commercial objectives and to compete on a global stage.' Innovation and new initiatives During the period, Presight launched the first cohort of its AI-Startup Accelerator and, after the reporting period, rolled out a series of initiatives including an AI-Policing Suite in cooperation with Abu Dhabi Police. It also agreed a joint venture with the Central Bank of the UAE to develop sovereign AI-native financial infrastructure, and signed an MoU with Dow Jones to create AI-driven risk and compliance solutions for global financial institutions, regulators and sovereign entities. With a debt-free balance sheet and strategic global partnerships, Presight said it is positioned for continued growth by delivering sovereign AI solutions more quickly, deepening client relationships and driving value in key markets. The company's applied intelligence solutions could benefit from expanding UAE-US technology collaboration and the UAE's AI partnerships aimed at advancing global communities.
Yahoo
30-07-2025
- Business
- Yahoo
Teva Boosts Outlook For Key Innovative Drugs Austedo, Ajovy, Uzedy
Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) reported its second-quarter 2025 financial results on Wednesday, reflecting a mixed performance amid continued shifts in its portfolio strategy. The company reported total revenue of $4.20 billion, falling short of analysts' expectations of $4.29 billion, according to Benzinga Pro. This marks a flat year-over-year result in U.S. dollars, with a slight decline of 1% in local currency terms. The revenue shortfall was primarily driven by weaker sales in Teva's generic drug portfolio. Specifically, the decline in generic revenues from its International Markets segment, compounded by the divestment of its Japanese business and a drop in sales from Copaxone, weighed on overall these declines were partially offset by strong sales growth from Teva's innovative drug offerings, including Austedo, Uzedy, and Ajovy. Sales of Copaxone, a key multiple sclerosis treatment, fell by 23%, contributing just $62 million in revenue for the quarter. On a more positive note, Teva's innovative portfolio saw impressive growth. Austedo, an FDA-approved treatment for tardive dyskinesia, saw a 19% increase in sales, reaching $498 million. Uzedy, used in the treatment of schizophrenia, more than doubled its sales, totaling $54 million. Similarly, Ajovy, a migraine treatment, reported a 31% year-over-year increase, bringing in $155 million. Teva's generic segment showed stable performance overall. Global generics revenues declined by 2% in local currency, excluding Japan's business venture, while U.S. generics saw a 6% drop. In contrast, European generics grew by 1%, and revenues from the International Markets segment fell by 1%. Teva also reported strong growth in its biosimilars segment. The company attributed this to the robust performance of both existing and newly launched biosimilars. Teva expects this segment to continue growing, with plans to launch two new biosimilars in the second half of 2025. The company is on track to double biosimilars revenues from 2024 to 2027, underscoring its commitment to expanding its portfolio in this rapidly growing sector. For the second quarter, Teva reported adjusted earnings of 66 cents per share, surpassing analyst estimates of 62 cents per share. The adjusted gross profit margin for the quarter improved to 54.6%, compared to 52.9% in the same period last year, reflecting the favorable mix of higher-margin innovative products. Teva's President and CEO, Richard Francis, highlighted the company's growing portfolio as a key driver of its financial performance. 'Teva's performance this quarter stands as a testament to the exceptional strength of our innovative portfolio, which remains the primary engine driving our revenue growth,' Francis said. 'Our key innovative products delivered a 26% increase in local currency, demonstrating their impact on our financial trajectory and value to patients.' View more earnings on TEVA During the earnings conference call, Francis stated that 70% of Teva's generics business operates outside the U.S., while its most innovative business is U.S.-based. On the supply chain, Teva has no reliance on China and a very small presence in India. Teva's CFO Eli Kalif confirmed that U.S. tariffs are absorbed into their 2025 non-GAAP outlook, indicating proactive financial planning to manage these impacts. Outlook Teva Pharmaceutical narrowed its fiscal 2025 adjusted earnings guidance to a range of $2.50-$2.60 per share from $2.45-$2.65 per share, slightly below the consensus estimate of $2.53. The company also reaffirmed its full-year sales guidance of $16.8 billion-$17.2 billion, slightly lower than the consensus expectation of $17.01 billion. This outlook takes into account the potential impact of tariffs and trade uncertainties within the pharmaceutical sector. Teva raised its sales outlook for several key products. The sales forecast for Austedo in 2025 was increased to between $2 billion and $2.05 billion, up from the prior estimate of $1.95-$2.05 billion. Similarly, the company now expects Ajovy sales to reach $630 million-$640 million, surpassing its earlier guidance of $600 million. Sales expectations for Uzedy were also raised from approximately $160 million to a range of $190-$200 million. Teva also expects around $370 million in sales from Copaxone in 2025. For its operating income and adjusted EBITDA, Teva reaffirmed its guidance range of $4.3 billion-$4.6 billion and $4.7 billion-$5 billion, respectively. The company remains focused on executing its long-term strategy, which includes building a $5 billion innovative medicines franchise by 2030, supported by its key assets and promising late-stage pipeline. As the company continues its pivot toward innovative therapies, it remains to be seen how it will navigate potential headwinds, including tariff impacts and competition in both its generic and biosimilar segments. Price Action: TEVA stock is trading higher by 2.36% to $16.94 at last check Wednesday. Read Next:Photo via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? TEVA PHARMACEUTICAL INDUS (TEVA): Free Stock Analysis Report This article Teva Boosts Outlook For Key Innovative Drugs Austedo, Ajovy, Uzedy originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Yahoo
28-07-2025
- Business
- Yahoo
Revvity trims 2025 profit forecast on soft demand for diagnostics in China
(Reuters) -Medical equipment maker Revvity on Monday lowered its full-year adjusted profit forecast as it expects demand for its diagnostics products in some international markets to remain soft, sending the company's shares down 8% premarket. The company, which makes more than 50% of its annual revenues from markets outside the United States, said sales of its diagnostics products in China, a key market, declined by double digits during the second quarter. Revvity said last quarter that it expected to take a $135 million hit from potential tariffs on China. It planned to adjust its manufacturing footprint and was in discussions with alternative suppliers, to mitigate impact from tariffs. The Massachusetts-based company now expects adjusted profit for 2025 between $4.85 and $4.95 per share, compared with its previous forecast of $4.90 to $5.00 per share. Analysts were expecting a profit of $4.93 per share, according to data compiled by LSEG. Revvity expects revenue of $2.84 billion to $2.88 billion for the full year, helped in part by a weaker U.S. dollar. It had previously forecast annual revenue of $2.83 billion to $2.87 billion and analysts were expecting $2.85 billion. The forecast cut from Revvity is in contrast to results from its peers Thermo Fisher Scientific and Danaher, which raised their annual profit forecasts last week. Second-quarter results, however, came in line with industry peers, as Revvity posted strong quarterly profit and sales of its life sciences products were $365.9 million, above estimates of $353.9 million. Thermo Fisher, Danaher and others have flagged robust demand across regions for their drug development products such as instruments and analytical tools used in trials and manufacturing, after two years of weak biotech funding. Sign in to access your portfolio
Business Recorder
10-07-2025
- Business
- Business Recorder
Global e-commerce sites: PM says 300,000 Pakistan-made products selling like hot cakes
ISLAMABAD: Prime Minister Shehbaz Sharif bragged on Thursday that more than 300,000 Pakistan-made products are now being sold like hot cakes on giant e-commerce sites including Alibaba – a massive boost for local entrepreneurs. The bold claim came during a high-level meeting with Alibaba's top executives, led by James Dong, President of International Markets, who was full of praise for Pakistan's booming e-commerce scene. Sharif – never one to sit still – immediately ordered a taskforce to turbo charge the country's digital trade game, aimed at getting even more Pakistani businesses hawking their wares online. 'E-commerce isn't just the future, it's the backbone of our export-driven economy,' Sharif declared, signalling a clear push to turn Pakistan into a global trade hotspot. Dong spilled the tea, revealing Pakistani textiles are flying off Alibaba's virtual shelves like wildfire. The executive sees 'unlimited potential' for Pakistan's online trade explosion and is ready to unleash technical training to help local entrepreneurs cash in big time. The closed-door sit-down also had Federal Minister for Information Technology Shaza Fatima Khawaja, the Federal Board of Revenue (FBR) chairman Rashid Langrial, and other top brass in attendance. Copyright Business Recorder, 2025
Zawya
07-07-2025
- Business
- Zawya
Small Businesses Embrace Social— But Could be Missing a Trick in the Age of Artificial Intelligence (AI)
According to the GoDaddy ( 2025 Global Entrepreneurship Survey, nearly half of small businesses in now primarily operate online, using websites, marketplaces, or social media to sell. This shows a clear shift as entrepreneurs embrace digital channels to reach customers, grow sales, and stay competitive in today's market. Social Media: A Key Tool with Real Challenges Social media plays a major role in how small businesses operate and grow. 80% of entrepreneurs say it's important to their sales strategy, and half (50%) say it's very important. It has also become the top place to learn about running a business: 59% turn to social media for insights, ahead of traditional educational resources like books and blogs (40%), and artificial intelligence tools like ChatGPT (37%). But while the value is clear, so are the challenges. When it comes to managing their social media presence, many entrepreneurs struggle with content. 37% say it's hard to come up with engaging ideas for posts, and another 33% don't have enough time to create and post regularly. Even when content is shared, converting engagement into sales remains difficult—51% say they have trouble converting followers into customers, and 54% can't reach the right audience. 'At GoDaddy, we realize how much potential entrepreneurs have—and we also understand how hard it is to turn online effort into real growth,' said Selina Bieber, Vice President of International Markets at GoDaddy. 'That's why we're focused on giving them smart, easy tools like Show in Bio ( that can help turn social engagement into actual sales, without adding more work.' These hurdles show that while social media is essential, it's not easy. Entrepreneurs need smarter tools and support to turn digital activity into real business growth. The Rise of Digital-First Small Businesses Running a business today means going beyond a physical store. While 31% of small businesses still work mainly from a physical location, the online world is catching up with 19% now run their business primarily through their own website. Another 28% operate mostly on social media. Sales channels also reflect this shift. Though 36% sell in person, 18% use online stores or marketplaces, and another 31% sell directly through social media. This mix of physical and digital approaches shows that small businesses are finding new ways to meet customers—whether in-store, online, or on social media. The ability to combine different methods indicates a significant evolution in business' ability to adapt to customers' needs and preferences. The Need for Smarter Tools and AI Support As entrepreneurs go digital, many know exactly what would help them sell on social. More than half (59%) say they need better ways to reach the right audience, almost half (48%) want simpler tools for creating and posting content, and over a third (39%) want insights into what is working and is not, highlighting a clear demand for practical, time-saving solutions. The Opportunity Ahead As more small businesses move online, the need for effective tools and support continues to grow. GoDaddy is committed to helping entrepreneurs succeed with easy-to-use solutions like Show in Bio ( GoDaddy Studio ( and GoDaddy Airo® ( all designed to simplify digital marketing and turn engagement into real results. Distributed by APO Group on behalf of GoDaddy. About GoDaddy: GoDaddy helps millions of entrepreneurs globally start and scale their businesses. People come to GoDaddy to name their idea, build a website and logo, sell their products and services, and accept payments. GoDaddy Airo®, the company's AI-powered experience, makes growing a small business faster and easier by helping them to get their idea online in minutes, drive traffic and boost sales. GoDaddy's expert guides are available 24/7 to provide assistance. To learn more about the company, visit
