Abu Dhabi – Mubasher: Gulf Pharmaceutical Industries (Julphar) on Sunday announced its financial results for the full year 2016.
The largest generic pharmaceutical manufacturer in the MENA region reported AED 1.45 billion in sales for 2016, it said in a statement.
“Despite the challenging and rapidly changing market environment, Julphar continued to perform strongly, which demonstrates the company’s solid and stable foundation,” it added.
Operating profit reached AED 229 million, while net profit for 2016 amounted to AED 210 million.
Julphar is currently expanding in an attempt to maximise presence in the region and globally, said the company’s CFO Jerome Carle, adding that the pharmaceutical manufacturer is finalising its “world-class” manufacturing facility in Saudi Arabia later in April.
“2016 was another year of great achievements for Julphar and I am confident that the company is equipped to take on new opportunities that will come our way in 2017,” he added.
Last month, the company’s managing director Hosam Badr had stated that his company was planning to expand its presence in 34 countries across the globe and sought to export more than 90% of its products.
The firm is likely to open more factories in Bangladesh and Ethiopia, Emirates News Agency (WAM) had reported in March.
