Ras Al Khaimah (Al Ittihad)
The shareholders of Gulf Pharmaceutical Industries (Julphar) approved the Board of Directors’ report on the status of the company’s activities and financial matters for the fiscal year ending on December 31, 2020, at the company’s annual general meeting.
During the last financial year, Julphar recorded net sales of AED 581.2 million, an increase of 93%, compared to net sales of AED 301.5 million in 2019. The company revealed that losses amounted to AED 317.4 million, including AED 201.3 million in non-recurring expenses, compared to a loss of AED 518.9 million in the previous year, a significant decrease by more than AED 200 million, due to the significant growth in net sales and improvements in production efficiency. Associated and successful market strategies.
For his part, Sheikh said. Saqr Bin Humaid Al Qasimi – Chairman of Julphar: “We would like to express our deep thanks and gratitude to all shareholders, government agencies and business partners for their steadfast trust and unwavering support for us over the past year. I am also very grateful for the dedication, commitment and exceptional enthusiasm of our employees who have played a vital role in Julphar’s success. We conduct a comprehensive review of all areas of our business to identify potential cost savings and introduce improvements in efficiency. We expect profitability to return in the second half of the year. ”
Dr. said. Issam Farouk – CEO of Julphar: “Julphar will consolidate its position in the market and expand its share in the markets of the Middle East and North Africa.
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