Julphar H1 profits up 10.4%

RAK-based pharmaceuticals firm Julphar has posted a 10.43 per cent year-on-year rise in its first-half gross profits for 2014, the firm said in a media statement.

Gross profit during the first half of 2014 was Dh455.1 million while gross profit for the second quarter was Dh218m, up 2.94 per cent y-o-y.

Julphar registered sales revenue of Dh761.7m in the first half of the year 2014, up 9.39 per cent y-o-y. Sales during the second quarter were driven by private market sales which saw a y-o-y growth of 13.9 per cent, it noted.

“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 and ensure timely deliveries,” said GVG Krishna, Chief Financial Officer, Julphar.

“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,” added Krishna.
 

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