Gulf Pharmaceutical Industries, or Julphar, registered a sales revenue of Dh630.3 million in the first six months of 2012, up 13.5 per cent year-on-year, driven by tender market sales, which saw a growth of 19.5 per cent.

Gross profit was at Dh380.6 million, up 5.6 per cent, while operating profit for the period was at Dh123 million, up 11 per cent. Operating profit margin during the period was a robust 19.5 per cent and profit for the period was up 8.2 per cent at Dh110.8 million.

In private markets, major sales were registered in Saudi Arabia (Dh119.1 million), the UAE (Dh62.6 million), Iraq (Dh56.8 million), Libya (Dh39.5 million) and Egypt (Dh33.4 million). Afghanistan, Yemen and Sudan also saw strong sales in this segment. In tender markets, major sales were achieved in Saudi Arabia (Dh62.2 million), Iraq (Dh27.8 million), Jordan (Dh15.6 million), Libya (Dh12.8 million) and Kuwait (Dh12.6 million).

“Julphar continues to see a consistent growth across all major markets and the results remain on track with our forecasts,” head of investments Raghu Sharma said.