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FINANCIAL NEWS
UAE’s Julphar reports USDsees H1 sales up 10.5%
26 Jul 2013
(MENAFN) UAE pharmaceuticals firm Julphar reported a 5.5 percent increase in half-yearly profit on higher sales, Arabian Business reported.
Julphar said it made USD31.82 million net profit during the first half of 2013 compared to a year earlier.
The company, based in Ras Al Khaimah, said that sales rose 10.5 percent to USD190 million in the January-June period form a year ago.
It also said that revenue growth during the period was driven by private market sales, which rose by 13.4 percent.
Gross profit for the half was up 8.3 percent year-on-year to USD112.2 million, while operating profit ticked up 2.6 percent to USD34.43 million.
Founded in 1980, Julphar has 12 manufacturing facilities and distributes more than 800 products in areas including endocrinology, anti-infective, cardiovascular, dermatology and gastroenterology.
Last year it became the only firm in the Middle East to produce the raw material needed to make insulin, through the launch of a unit entirely dedicated to diabetes.
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