Julphar profit falls in second quarter amid push to bolster portfolio and operations – The National

Julphar profit falls in second quarter amid push to bolster portfolio and operations – The National

Gulf Pharmaceuticals Industries, the Ras Al Khaimah-based company better known as Julphar, reported a 93 per cent annual decline in second-quarter profit as it boosted its portfolio and operations.

Profit attributable to equity holders in the three months ended June dropped to Dh4.8 million ($1.3m), from Dh73.8m a year ago, it said in a filing to the Abu Dhabi Securities Exchange, where its shares are traded.

However, revenue surged by about 91 per cent annually to Dh420m as Julphar increased its focus on core markets in the Mena region, improved market access and expanded its portfolio.