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Julphar’s 2023 accumulated losses hit 30% of capital; revenues up

Julphar’s 2023 accumulated losses hit 30% of capital; revenues up
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Julphar
JULPHAR
-0.64% 0.93 -0.01

Abu Dhabi – Mubasher: Gulf Pharmaceutical Industries (Julphar) registered accumulated losses valued at AED 346.70 million as of 31 December 2023.

The incurred accumulated losses represent 30% of the company’s paid-up capital, according to a bourse disclosure.

In the 12-month period that ended on 31 December 2023, the net losses attributable to the owners of Julphar enlarged to AED 99.10 million from AED 29.40 million.

Basic and diluted loss per share hit AED 8.60 last year, higher than AED 2.50 in 2022.

The revenues from contracts with customers rose year-on-year (YoY) to AED 1.63 billion in 2023 from 1.61 billion.

In the first nine months (9M) of 2023, Julphar turned to net losses worth AED 83.40 million, compared to net profits valued at AED 10.40 million in 9M-22.