Abu Dhabi – Mubasher: The profits of the Gulf Pharmaceutical Industries decreased “Julfar“87 percent, by the end of the first half of this year, compared to profits for the same period last year.
Julphar explained in a statement to the Abu Dhabi Stock Exchange that its profits fell to 6.3 million dirhams by the end of the first half of 2022, compared to achieving profits of 49.9 million dirhams achieved during 2021.
General and administrative expenses increased by 185% to reach 118.7 million dirhams, compared to 41.6 million dirhams during the first half of 2021.
Selling and distribution expenses increased by 77% to reach 172.7 million dirhams, compared to 97.4 million dirhams during the same period in the previous year.
Financing costs increased by 64% to reach 15.1 million dirhams, compared to 9.2 million dirhams during the first half of 2021, in addition to a 48% decrease in other income to reach 36.3 million dirhams, compared to 69.3 million dirhams during the same period last year..
Gulf Pharmaceutical Industries “Julphar” turned profitable during the first quarter of this year, compared to the first quarter of last year..
The company indicated that the group’s net profit amounted to 1.9 million dirhams in the first quarter of 2022, compared to recording a loss of 29.2 million dirhams in the first quarter of 2021..
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