Sales of Julphar grow by 15% & operating profit by 9%; profit grows to Dhs230m
Julphar registered sales revenue of Dhs1,362.1m in the year ending December 31st, 2013, up 15.4% year-on-year (yoy). Sales during the year were driven by the private market sales which saw a yoy growth of 19.4%.
Julphar Chairman, HH Sheikh Faisal Bin Saqr Al Qassimi, said: “The UAE is driving forward healthcare expansion at an international level and Julphar is proud to play a significant role in shaping the future of our industry. As the first and largest Emirati Pharmaceutical Company, we are positioned to help create a truly global platform for quality healthcare.”
He added: “We extend our thanks to our Government, Customers, Board of Directors and financial institutions, employees and all other stakeholders for their whole-hearted and continued support and contribution in the success of Julphar.”
The company continued to show robust operational performance during 2013. Gross Profit during the period was Dhs820.7m, up 17.7% yoy. Operating Profit for the year, on the other hand, was Dhs235.9m, up 8.6% yoy. Operating profit margin during the period was a robust 17.3%. Profit for the year was Dhs230.4m, up 14.9% yoy.
Commenting on these results, Mr. GVG Krishna, CFO, Julphar, said: “2013 has been another great year for the company. The sales mix has seen some shifts during the year. In the private market segment, while our traditional strongholds KSA, the UAE, Iraq and Lebanon have continued to see strong double-digit growth, Kuwait, Oman and Morocco too saw a strong demand for our products. In the tender segment, on the other hand, Libya, Jordan, Ethiopia and Yemen showed strong performance.”
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