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Chairman's
Message
Dear Shareholders,
Let me congratulate you on yet another year of
excellent results of your company. This year has
been very different from any of the previous
years and very significant in the history of the
company. For the current financial year
2007,your company has earned profits of over AED
207 Million, up by AED138 million from AED 69
Million of 2006, registering growth rate of
199%. The sales of the company increased by over
17% for the same period. The total sales for
2007 stood at AED 676 Million against the sales
of AED 576 Million of 2006. At the end of the
year 2006, we have reiterated our commitment to
make Julphar the largest and best pharmaceutical
manufacturer in the Middle East. We stated our
objective of making your company unique in every
sphere of its operations and one that can
withstand the challenges and rigors of
international competition. As you are all aware,
Julphar’s core competence is it’s manufacturing
and marketing abilities. The company has been
the trendsetter in the every aspect of
Pharmaceutical Manufacturing in the Middle East.
The facilities of Julphar are state-of-the-art
and its quality standards are on par with
industry standards all across the world.
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In line with the
company’s vision
of becoming
synonymous with
Pharmaceutical
manufacturing
excellence in
the Middle East,
Julphar has
completed
construction of
Julphar – VIII
and IX plant.
These are
expected to
commence
commercial
production by
May 2008. These
plants will
establish
Julphar firmly
on the map of
Anti-Biotic
manufacturers in
Middle East. The
year also marks
Julphar’s major
initiative in
retail health
care sector.
Julphar
established a
new company
“Planet
Pharmacies LLC”
in collaboration
with the leading
private equity
investment
company of
Kuwait “Global
Investment
House”. The new
setup is
expected to
create greater
visibility to
Julphar brand of
products while
reducing our
marketing
expenses in the
long run. The
new company will
be one of it’s
kind in the
Middle East and
our association
with the
establishment
will add value
to the bottom
line as well as
the top line of
Julphar. We have
transferred our
subsidiaries of
JDS
Distribution,
Awafi Drug Store
initially and
the remaining
divisions will
be transferred
subsequently.
The new
company’s
capital will be
900 Million and
Julphar will
have 40% stake
while the
private equity
partner will
holds 60%, in
the new company.
Another
significant
development is
that Julphar
will establish
its own
transportation
company, MENA
Cool
Transportation
Company.
Medicines are of
specialized
nature. They
need
transportation
and handling
practices of
highest
standards and
efficiency. How
ever, the pace
of growth
experienced in
the region has
affected the
efficiency in
delivering
medicines to the
markets and
customers on
time. The new
company is
expected to help
Julphar control
its delivery
schedules more
effectively and
save
considerable
revenue loss.
With our own
trucking company
we could ensure
that the storage
conditions and
the proper
temperature will
be maintained
during
transportation
of the
medicines. By
this, we could
ascertain that
the quality of
our products are
retained. Your
company will
strive to be the
best in every
operation
undertaken, will
work towards
becoming the
benchmark for
the industry of
the region.
Hopefully, it
will have
another
tremendous year
in 2008. I would
like to take
this opportunity
to thank all the
Board Members,
Shareholders,
Customers ,
Government &
Financial
Institutions and
the Employees
for their
contribution in
the success of
Julphar.
Sheikh Faisal Bin Saqr Al Qasimi
Chairman of the Board |
