Julphar swings to profit in 2021 on higher revenue – The National
- Date: 11-Feb-2022
- Source: The National
- Sector:Financial Markets
- Country:Gulf
Julphar swings to profit in 2021 on higher revenue – The National
Gulf Pharmaceutical Industries, known as Julphar, one of the biggest drug manufacturers in the Middle East and Africa, swung to a net profit in 2021 following years of losses on the back of improved revenue in its core markets.
The group posted a net profit of Dh65 million ($18m) last year, compared with a net loss of Dh317m in 2020, it said in a statement to the Abu Dhabi Securities Exchange, where its shares trade.
Julphar's return to profit, its first since 2017, came after revenue nearly doubled last year to Dh1.15 billion.
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