Julphar Announces Q1 Results
one of the largest pharmaceutical manufacturers in the Middle East and Africa, introduced its initial quarter 2018 financial outcomes.
The company reported very first quarter 2018 sales of AED 264.0 million and a net earnings of AED 18.4 million, after application of new Accountancy Standard IFRS 9 and IFRS 15.
Julphar's Q1 2018 results were announced at a Board of Directors meeting, which was chaired by His Highness Sheikh Faisal Bin Saqr Al Qasimi, Chairman of the Board of Julphar.
Jerome Carle, General Manager of Julphar, said: "Julphar delivered a good initial quarter efficiency, in accordance with our interior target. In the very first three months of 2018, we made considerable progress in UAE and Levant and we resumed our operations in Libya.
" This is an excellent set of results showing the progress we are making. We continued to enhance our positions with new product launches in Cardiology and Respiratory, and the implementation of our long-lasting technique in Customer Medical care. We also boosted our working capital KPI, after turning out numerous tactical campaigns in 2014.
" We are well-positioned for a solid and profitable second quarter and stay focused on providing shareholder worth via natural and critical growth opportunities. In mix with our development campaigns in position such as Saudi Arabia and Africa, we think there are solid motorists for our growth in 2018."
Earlier, it was revealed that Julphar had been ranked leading pharmaceutical company in the UAE by IMS Health, reflecting a strong dual figure sales development versus 2017. This year, the company plans to launch 25 new products in the UAE and register 200 new products in the region.
Carle included: "We are off to a solid beginning in 2018. We have reached the primary setting in the UAE in regards to market share, our brand-new management group is currently totally on board and we are building up a solid products pipeline.
About Julphar
Julphar is among the largest pharmaceutical makers in the Middle East and Africa and for practically four decades, the company has been supplying excellent quality, innovative and economical medical care services to family members across the globe. Established under the guidance of His Highness Sheikh Saqr Bin Mohammed Al Qasimi in 1980, Julphar uses greater than 5,000 individuals and distributes pharmaceutical products to more than 50 countries on five continents.
Julphar's business is centered on three core business systems - Julphar Diabetes mellitus Solutions, General Medicines and its customer department, Julphar Life - which target significant restorative sectors consisting of Gastrology, Pain Management, Wound Treatment, Antibiotics and Cardio-metabolism.
Julphar has 16 internationally accredited facilities in Africa, Middle East and Asia that generate more than a million boxes of medicines a day. In 2012, Julphar turned into one of the biggest manufacturers of Insulin with its UAE-based Biotechnology production unit based.
