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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.

 

 

 

 

 

 

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

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