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CEO'S Review
CEO’S
Review
Dear
Shareholders,
It was
another year of a strong all-round performance
for your company – strong growth and market
expansion. We hope to continue to build on this
solid performance in the years ahead. While
Julphar ended the year 2010 with another set of
robust results, the year also saw the passing
away of H H Sheikh Saqr bin Mohammed Al Qasimi,
the Ruler of Ras Al Khaimah, who was not only
Julphar’s founder but also among the leading
founding fathers of the United Arab Emirates. We
pray to Almighty Allah to keep his soul in peace
and let him live in paradise along with martyrs
and grant us patience. Sheikh Saqr’s vision will
always guide our endeavors and we re-dedicate
ourselves, once again, to forever progress on
the path shown by this great leader and
visionary. We pray to the Almighty Allah that we
continue to benefit from the generous guidance,
vision and leadership of H H Sheikh Saud bin
Saqr Al Qasimi, who has succeeded Sheikh Saqr as
the Supreme Council Member of the UAE and Ruler
of Ras Al Khaimah.
A Year of
Achievements
The year 2010 saw Julphar scale greater heights
in the performance of its existing product
offerings. Simultaneously, a number of positive
developments augur well for the future of the
company:
> Winning of Sheikh Mohammed Bin
Rashid Al Maktoum
Business Award.
> Continued growth in MENA in market
reach, as well as
product registrations
> The number of registrations
reached a record 3,537. Product
re-registrations, renewals and dossier
submissions continued
to be robust.
> Deeper penetration for Mebo in
LatAm markets.
> Progress on new production
facilities on track.
These achievements are likely to have long-term
implications for the company’s performance in
the coming years.
Sheikh
Mohammed Bin Rashid Al Maktoum Business Award
Julphar won the Sheikh Mohammed Bin Rashid Al
Maktoum Business Award instituted by Dubai
Chamber of Commerce, in the “Manufacturing”
category during the year. This Award is a
reaffirmation of the company’s robust
performance, its underlying strong fundamentals,
and its well-planned and well-executed future
strategy. It is also a recognition of our
outstanding manufacturing capabilities.
Continued
Growth in MENA
We continued
to grow in the MENA region with our product
offerings. We increased our product
registrations during the year to 3,537 products,
while spreading our registration footprint to 50
countries. The new registrations have added to
our vast portfolio of product offerings, and
will likely give a stronger push to our presence
in our core markets.
Significant
gains continued to be registered in many of our
leading markets during the year, where Julphar
further consolidated its market leadership
position. Saudi Arabia, UAE, Iraq, Jordan,
Afghanistan, Lebanon and Libya were among our
leading markets which saw huge gains during
2010.
Mebo
Expands its LatAm Footprint
The year saw Julphar expanding its market
presence for its leading product Mebo in the
Latin American market. Julphar’s famous Mebo
range consists of tissue-healing, herbal
products made purely of natural ingredients.
With the signing of an agreement with its Latin
American agent, Julphar will likely be able to
widen the reach of its Mebo range of products to
a number of leading countries in the region,
including Argentina, Brazil and Mexico.
Continued
Focus on Emerging Markets
The company continues to focus on expanding its
presence in the emerging markets. These markets
with a strong and sustained demand undercurrent
are likely to be the growth drivers of the
future. Julphar is looking to strengthen its
presence in these markets by building on its
existing relationships, widening and deepening
its market penetration, and offering more varied
and complex products, going forward. |
