In a touching Instagram post, Bipasha shared adorable pictures of themselves
entertainment8 hours ago
Gulf Pharmaceutical Industries (Julphar) on Tuesday said its first-quarter net sales surged 156 per cent to Dh418.6 million due to its strategic acquisition of Planet Pharmacies.
The RAK-based pharmaceutical group also attributed increase in sales to 37 per cent organic growth from the Julphar Segment operations, reflecting the increased focus on Julphar’s core markets in Mena, improved market access and the expansion of the company’s product portfolio.
The company's earnings before interest, taxes, depreciation, and amortisation (EBITDA) from continuing operations increased to Dh40 million in Q1 2022, a significant increase from Dh0.2 million in Q1 2021.
The improved profitability results from Julphar’s successful implementation of its two-year strategic turnaround plan, divesting from non-core and loss-making activities and delivering efficiency improvements in its manufacturing operations. Gross profit margin increased to 41 per cent compared to 28 per cent in the previous year.
Net profit of the Julphar Group for the period reached Dh1.9 million, marking a return to profitability compared to a loss of Dh29.2 million in Q1, 2021. Cash flow from operations was Dh10.2 million in Q1 2022, up from Dh3 million in Q1, 2021.
Sheikh Saqer bin Humaid Al Qasimi, Chairman of the Board of Julphar, said this is a strong set of results that build on our financial turnaround of the past two years. "With a visionary management team and a cohesive 2030 strategy, we are well-positioned to re-establish Julphar as a market leader and better serve our clients in the Mena region and beyond.”
Dr Essam Mohammed, chief executive officer of Julphar, said: “We have successfully delivered our strategic turnaround priorities and delivered robust growth across key performance drivers. We are now focused on executing the next stage of Julphar’s transformational growth phase and providing sustainable value for patients, shareholders and stakeholders.”
The company recently announced its 2030 growth strategy to deliver sustainable growth and value to all stakeholders. The strategy, which aims to triple revenue by 2030, is built around six core pillars: “Maximising Revenue from current Product Portfolio”, “New Product Launches”, “Geographical Expansions”, “Strategic Business Initiatives”, “Advanced Specialty Products Initiative” and “In-Organic Growth Initiatives”.
Under the strategy, the company will seek to scale its existing product portfolio, grow market share in existing markets, enter new markets, develop strategic partnerships and realise profitability improvements through economies of scale, cost savings and investments in operational efficiencies. The company is investing in in-house R&D to develop a robust and sustainable pipeline and launch more than 100 new products in well-defined new therapeutic areas in the coming years.
— muzaffarrizvi@khaleejtimes.com
In a touching Instagram post, Bipasha shared adorable pictures of themselves
entertainment8 hours ago
In this opulent saga, Bhansali delves into the world of Basra pearls
entertainment8 hours ago
The news comes just two days after his rape conviction was overturned by the New York Court of Appeals
entertainment8 hours ago
The AFI Life Achievement Award is the highest accolade granted by the American Film Institute
entertainment8 hours ago
The paths of these two stars have intersected on several occasions due to their association with the luxury brand Bulgari
entertainment8 hours ago
The students' demands range from a ceasefire in Israel's war with Hamas to calls for universities to stop investing in Israeli enterprises
world8 hours ago
Despite Kohli's flowing form ahead of the T20 World Cup in June, pundits have raised concerns over his strike-rate
cricket8 hours ago
Saudi Arabia has begun to explore extracting lithium from sea water
business9 hours ago