Gulf Pharmaceutical Industries – or Julphar – almost tripled net profit in 2007 at Dh207 million compared to Dh69m in the previous year, despite an increase in operational costs that slashed margins by 3.0 per cent, Chairman Sheikh Faisal bin Saqr Al Qasimi said on Thursday.
Shareholders will receive 10 per cent of the profit as cash dividend and five per cent as share dividend. “These profits were made despite the increase in the value of the euro against the dollar and the dirham. Our cost of raw material imports has increased resulting in a three per cent reduction in the total profit margin.”
Julphar profit triples to Dh207m