Abu Dhabi – Mubasher: Gulf Pharmaceutical Industries (Julphar) has achieved net profits attributable to the equity holders of AED 64.4 million in 2021, against net losses of AED 293.2 million in 2020, according to the company's consolidated financials for the year ended 31 December 2021.

The company's revenues from contracts with customers jumped to AED 1.14 billion in 2021 from AED 573 million in the earlier year.

The basic and diluted earnings per share (EPS) settled at 5.6 fils last year, versus losses per share of 27.7 fils in 2020.

Commenting on the company's performance, the Chairman of Julphar, Sheikh Saqer Humaid Al Qasimi, said: "Julphar is focused on the continued development of its core business to provide affordable and quality health care solutions in the MENA region."

Meanwhile, the CEO of Julphar, Essam Mohamed, commented: "Underscored by sales increase and cost-saving, the strategic acquisition of Planet Pharmacies, and Julphar’s cash flow positive position primes it for further growth opportunities as it continues its drive to bring its first-in-class new products and newly added value medicines throughout the region."