Iraq bloodshed hurts Julphar sales volume

Ras Al Khaimah: The endless cycle of bloodshed has severely hampered Ras Al Khaimah-based Gulf Pharmaceutical Industries (Julphar) from shipping goods to Iraq despite a flood of orders.

Julphar management, who released the company's year end results yesterday, stressed that "had the conditions been normal in Iraq, Julphar could have improved its operations margins much higher."

Despite setbacks in Iraqi trade, Julphar registered its highest ever sales of Dh613 million, a growth of 12.6 per cent (Dh68 million). This in turn produced the best ever operating results of Dh103 million where, a growth by 36.5 per cent.