Julpar records a growth in revenue during 2024
Ras Al Khaimah, March 18 / WAM / Gulf Pharmaceutical Industries Company (Julphar) announced its audited financial results for the fiscal year 2024, as it recorded a growth in revenues and improved profitability and cash flows.
The company achieved sales of continuous operations of 1.31 billion dirhams, recording a growth of 2.7% compared to 2023, and the group’s operational profits reached 44.9 million dirhams, while profits doubled before interest, taxes, consumption and firefighting to reach 144.7 million dirhams.
The operational cash flows increased to 245 million dirhams compared to 93.6 million dirhams in 2023, driven by improving working capital management and increasing profitability, and a net profit from continuous operations reached 16.3 million dirhams.
“Julpar” confirmed its continued expansion, as it has registered 72 new products that will be offered successively in the Middle East and North Africa markets, which reflects its commitment to support the drug sector and enhance its presence in the regional markets.
Sheikh Saqr bin Humaid Al Qasimi, Chairman of Julphar’s Board of Directors, expressed his confidence that the geographical expansion and innovation will enhance the impact of the company in the health care and knowledge economy sector, stressing that the 2030 growth strategy will support the company’s commitment to providing innovative products and medical solutions.
For his part, Basil Ziada, CEO of the company, said: “We have implemented transformative changes in our business model, which enhances our ability to achieve long -term value and provide returns to shareholders, while maintaining a strong balance between investments and the capital structure.
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