AED 1.47 billion Julphar sales in 2015 - Julphar distributes 11 percent cash and 4 percent bonus shares to shareholders
The Julphar general assembly distributes 11% of profits in cash in addition to 4% in shares to shareholders.
Lead by Sheikh Faisal Bin Saqr Al Qasimi, Chairman of Julphar (Gulf Pharmaceutical Industries), the general assembly meeting took place in the company’s headquarters in Ras Al Khaimah. Sheikh Faisal spoke about the number of achievements that were reached last year in 2015: “In the middle of the political crisis that affected some countries, Julphar maintained its stability and its commitment to the promises and covenants that have made it the pharmaceutical industry’s national leader; at the same time raising Julphar’s reputation for pharmaceutical preparations emblazoned with the words "Made in UAE" and universally respected therapeutic solutions for many diseases in more than 40 countries around the world”.
“The achievements that have been accomplished despite the political climate in some countries in the region is a testament to the integrity of the cautious and balanced measures taken by the Board of Directors in the face of difficult circumstances, where the focus was on product quality at the right pricing level, and looking for emerging markets”, added Sheikh Faisal.
Sheikh Faisal was highly optimistic about the company’s future and its ability to achieve further growth. He singled out the Saudi Arabian Julphar factory, which will go into production before the end of 2016, becoming the third plant owned by Julphar outside the UAE after the Ethiopian and Bangladeshi facilities. Sheikh Faisal also acknowledged the report submitted by the Board of Directors which included the last year’s successes in 2015, including an operating performance improvement resulting in an increase in sales to AED 1.47 billion, compared to AED 1.39 billion in 2014 - a growth rate of 6%. The gross profit totaled AED 908.9 million, up 11.1% on 2014, when it was AED 818.4 million. In terms of operating profit for 2015, the figure was AED 249.7 million, an increase of 7.7% over 2014, when it came to AED 231.8 million. The net profit of AED 226.65 million showed an increase of 12.2% to AED 202.08 million in 2014.
The seven main markets’ revenues accounted for 80% of Julphar’s total sales last year, with Saudi Arabia contributing 35%, UAE 16%, Egypt 9%, Iraq 8%, Lebanon 5%, Kuwait 4%, and Libya 3%.