Sales of Julphar grow by 9.39% in first half; sales grow to AED 761.7 million
Julphar registered sales revenue of AED 761.7 million in the first half of the year 2014, up 9.39% year-on-year (yoy). Sales during the second quarter were driven by private market sales which saw a yoy growth of 13.9%.
The company continued to show strong operational performance during the period. Gross Profit during the first half of 2014 was AED455.1million, up 10.43% yoy. Gross Profit for Q2 was AED218 million, up 2.94% yoy.
Julphar Chief Financial Officer, GVG Krishna, stated “One of the main factors to drive our growth is our manufacturing ability. Over the past couple of years we have launched several initiatives in the MENA region to enhance supplies to governments and ensure timely deliveries.”
“Plans are underway to build a new facility in KSA which will provide better healthcare solutions to the Saudi market. Prior to that, we launched similar projects in Ethiopia and Algeria in our bid to contribute to the improvement of the pharmaceutical sector in Africa. We are confident that with our expertise we will be able to make big strides on that front and deliver innovative solutions that will cater to all patients in the countries we operate in,” added Krishna.