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Julphar turns profitable in H1-21

Julphar turns profitable in H1-21
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Julphar
JULPHAR
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Abu Dhabi – Mubasher: Gulf Pharmaceutical Industries (Julphar) registered AED 49.9 million in profits during the first half (H1) of the year, compared with losses of AED 83.2 million in H1-20.

The company attributed turning profitable to the increase in revenues by 41%, as well as the higher profit margin of 39.6% in H1, compared with 32.7% in H1-20, due to the increase in sales compared with the direct costs.

Moreover, the pharmaceutical manufacturer managed to achieve 30% higher sales during the second quarter (Q2) of 2021 at AED 221.3 million, compared with Q2-20.

Julphar also reported a miscellaneous income from liabilities written back of AED 65.9 million and the drop in loss from discontinued operations to AED 1.2 million from 24.6 million in H1-20.

The company increased its capital from AED 655.2 million to AED 1.15 billion through a rights issue.