Julphar announces financial results for first nine months of 2012

The company continued to show robust operational performance during the period. Gross Profit during the period was Dhs540.9m, up 7.0% yoy. Operating Profit for the period, on the other hand, was Dhs172.0m, up 9.6% yoy. Operating profit margin during the period was a robust 19.1%. Profit for the period was Dhs153.4m, up 6.6% yoy.

Significant gains continued to be registered in almost all of its leading markets during the period. Libya, Iraq, Egypt, Afghanistan and Saudi Arabia saw huge gains for the company during the period under review. The top-7 markets continued to show strong growth in private and tender markets, as well as on overall basis.

Commenting on the results GVG Krishna, Julphar's Chief Financial Officer, said: "Julphar continues to see consistent growth across all of its major markets and these results remain on track with our annual forecasts. We have seen an excellent contribution from our operation in Saudi Arabia which has been Julphar's leading market for this period. Overall a strong set of results and solid performance that we anticipate will continue until the year end (December 31)."