Julphar reports first nine months earnings

Julphar Gulf Pharmaceutical Industries, the largest generic pharmaceutical manufacturer in Middle East and North Africa (MENA), announced sales revenue of AED 1,066 million in the first nine months of the year 2016.

The company posted a gross profit of AED 622.9 million and its net profit for the period was AED 157.2 million.

“The Saudi and UAE markets contributed for 56% of the sales for the given period,” said Dr Ayman Sahli, Chief Executive Officer at Julphar. “However and overall, the growth in the MENA markets has been quite slow for the period, which impacted our sales. In current challenging environment, Julphar’s Management has taken steps to reduce cost, like Opex Control to enhance profitability, and that resulted in better savings compared to the previous year.”