UAE's Julphar sees H1 sales up 10.5%

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UAE pharmaceuticals firm Julphar saw its sales rise 10.5 percent year-on-year to AED696.4m ($190m) during the first half of 2013.

Ras Al-Khaimah-based Julphar, which manufactures and distributes more than 800 products, said revenue growth during the period was driven by private market sales, which rose by 13.4 percent.

Net profit increased 5.5 percent to AED116.9m.

Gross profit for the half was up 8.3 percent year-on-year to AED412.1m, while operating profit ticked up 2.6 percent to AED126.5m. Operating profit margin was at 18.2 percent.

“The financial figures reflect a successful first half of the year for Julphar,” commented Sheikh Faisal bin Saqr Al Qasimi, chairman of Julphar. “Maintaining stable financial growth and delivering sustainable healthcare is a key priority of the board."

Founded in 1980, Julphar has 12 manufacturing facilities and distributes 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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