Financial Results for First Nine Months of 2013 (Period ended September 30, 2013)

Sales of Julphar Grow by 11% & Operating Profit by 6%;

Profit Grows to AED 167 Million

 

Ras Al Khaimah (UAE) October 31, 2013 Julphar registered sales revenue of AED 1,003.4 million in the first nine months of the year 2013, up 11.2% year-on-year (yoy). Sales during the period were driven by the private market sales which saw a yoy growth of 15.6%.

 

The company continued to show robust operational performance during the period. Gross Profit during the period was AED 595.4 million, up 10.1% yoy. Operating Profit for the period, on the other hand, was AED 182.2 million, up 5.9% yoy. Operating profit margin during the period was a robust 18.1%. Profit for the period was AED 167.0 million, up 8.9% yoy.

 

Commenting on these results, Mr. GVG Krishna, CFO, Julphar, said: “The financial results of the first nine months of this year clearly reflect Julphar’s robust performance and sustained growth, and put us in an advantageous position to hit our projections target for the year. This is very good news as we continue our expansion to regional and emerging markets”.