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The Abu Dhabi National Company for Building Materials (BILDCO) held its eleventh board meeting of 2024 on 14th November. During this meeting, the board approved the minutes from the previous meeting (meeting no. 10 of 2024), approved the financial statements for the third quarter of 2024, and decided to restructure the permanent committees of the Board of Directors.
Insurance House P.J.S.C. has released its un-audited condensed interim financial information for the six-month period ending on June 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.