Abu Dhabi - Mubasher: Gulf Pharmaceutical Industries (Julphar) reported a 29% growth in profits in the fourth quarter of 2016, according to the company’s statement to the Abu Dhabi Securities Exchange (ADX) on Tuesday.
As shown by the company’s financial statements, profits totalled AED 52.38 million ($14.38 million) in Q4-16, compared to AED 40.95 million ($11.15 million) in Q4-15.
Meanwhile, annual profits declined by 7.33% and totalled AED 210.03 million in 2016 down from AED 226.25 million in 2015.
Sales decreased by 1% to AED 1.45 million, due to unstable prevailing situations in some major markets for Julphar such as Afghanistan, Egypt, Libya, and Saudi Arabia, the statement added.
