Julphar (Gulf Pharmaceutical Industries) registered sales revenue of AED 393.5 million in the first quarter of the year 2014, up 19.2% year-on-year (yoy). Sales during the quarter, ended March 31, were driven by private market sales which saw a yoy growth of 14.3%.
The company continued to show strong operational performance during the period. Gross Profit during the quarter was AED 237.1 million, up 18.3% yoy. Profit for the quarter was AED 70.1 million, up 12.0% yoy.
In a step that reflected the company’s strong performance in 2013, the general assembly of Julphar held last month decided to distribute to shareholders 10% of profits in cash in addition to another 10% in shares from a total capital amount of AED863.151m.
Also, supporting the UAE leading Emiratisation initiative “Absher”, Julphar has recently decided to allocate half million bonds, out of a total of 50 million bonds issued to raise the company’s capital, for the benefit of the company’s Emirati employees.
Established in 1980, Julphar is a regional leader in the production and distribution of high quality, affordable pharmaceutical products, having a manufacturing network consists of twelve world-class production facilities and a reliable logistics network which spans five continents.
Their diverse product portfolio contains over 800 products and targets major therapeutic segments including endocrinology, anti-infective, cardiovascular and gastroenterology, over-the-counter, nephrology, dermatology, respiratory, metabolic and burn and wound management.
Source : WAM News Agency for United Arab Emirates