The UAE-based Julphar Gulf Pharmaceutical Industries, a leading generic pharmaceutical manufacturer in Middle East and North Africa (Mena) region, posted a net profit of Dh226.6 million ($61.6 million) for 2015, up 12.2 per cent year-on-year.

The company closed the year with sales totalling Dh1.47 billion ($400 million), marking a growth of 6 per cent against 2014 sales of Dh1.39 billion ($378 million), said a statement from the company.

The company announced the results following a board of directors meeting held at its head office in Ras Al Khaimah, UAE, it said.

The company demonstrated a steady operational performance during 2015, posting 11.1 per cent year-on-year rise in its gross profits to Dh908.9 million ($247.4 million), it added.

Dr Ayman Sahli, chief executive officer of Julphar, said: “2015 has been another year of great achievements for the company and we are excited to head into another stimulating year.”

“As one of the UAE’s most ambitious local businesses, we strive to make an impact in the global industry and thrive in international markets. With manufacturing facilities in Ethiopia and Bangladesh, we have plan to expand our global manufacturing presence with the launch of our third international plant in Saudi Arabia, which is expected to begin its operations during 2016,” he said.

“The results shows a remarkable effort from our employees and sales team, and highlights true dedication from our staff all around the world. We will keep on working hard to deliver our mission to provide high quality, affordable medicines to communities, as this is – and will remain – at the core of our business strategy,” he added. – TradeArabia News Service