Press releases, Reports & Disclosures for Gulf Pharmaceutical Industries

The document in question is the unaudited interim condensed consolidated financial statements for Gulf Pharmaceutical Industries P.S.C. as of September 30, 2024.

Gulf Pharmaceutical Industries P.S.C. released its unaudited interim condensed consolidated financial statements for the period ending on September 30, 2024.

Julphar, a leading pharmaceutical company in the MENA region, reported strong financial results for the third quarter of 2024, with a 14.0% increase in revenue to AED 417.1 million and a 108.8% growth in EBITDA to AED 45.1 million compared to the previous year. Year-to-date sales reached AED 1,300.2 million, marking a 6.1% growth. The company also improved its profitability, reducing its net loss from continuing operations by AED 72.8 million to AED 7.1 million. EBITDA for the year-to-date doubled to AED 153.5 million, supported by strategic efficiency initiatives. Julphar's cash flow from operations improved significantly to AED 136.9 million, highlighting effective working capital management. The company also registered 55 new products across MENA, indicating progress in its commercial execution and long-term growth strategy.

Resolution No. 515 of 2024 announces the temporary suspension of trading for Gulf Pharmaceutical Industries (JULPHAR) shares on the Abu Dhabi Securities Exchange (ADX). The suspension will begin at 11:00 on November 14, 2024, coinciding with the company's Board of Directors meeting, and will remain in effect until ADX receives the meeting results. The resolution mandates that all ADX departments implement this decision within their respective areas. It also requires that the resolution be communicated to the Securities and Commodities Authority (SCA), the concerned company, all ADX departments, and accredited brokers. The resolution has been approved by the authorized person and was issued on November 8, 2024.

The Abu Dhabi Securities Exchange has issued a resolution to suspend the trading of Gulf Pharmaceutical Industries shares starting from October 23, 2024, until further notice. This decision is in accordance with Articles 10/11 and 38 of the ADX Listing and Disclosure Rules. All relevant departments and brokers are required to implement this resolution, which will be effective from the issuance date. The resolution was issued by Abdulla Salem ALNuaimi, the Chief Executive Officer of ADX.