Egypt in preliminary talks to raise $2.5bn amid intensifying economic pressure: Bloomberg

Egypt in preliminary talks to raise $2.5bn amid intensifying economic pressure: Bloomberg
Egypt in preliminary talks to raise $2.5bn amid intensifying economic pressure: Bloomberg

Thank you for reading the news about Egypt in preliminary talks to raise $2.5bn amid intensifying economic pressure: Bloomberg and now with the details

Jeddah - Yasmine El Tohamy - RIYADH: UAE-based Gulf Pharmaceutical Industries, also known as Julphar, announced robust results for the second quarter of the year, with gross profit margin reaching 34 percent.

Julphar performance was mainly driven by a 91 percent  year-on-year increase in net sales, to 419.9 million dirhams ($114.3 million), a statement showed. 

The second quarter marks a return to a double digit margin of 10.5 percent of net sales. 

Earnings before interest, taxes, depreciation, and amortization reached 44.2 million dirhams in the second quarter of the year, compared to 40 million dirhams in the same period of 2021, building on the successful implementation of the turnaround plan in the first quarter, the company said.

Julphar achieved those results with continuing operations, despite geo-economic headwinds that have impacted year-to-date and quarter-on-quarter sales in markets such as Algeria, Ethiopia and Morocco. 

Julphar has achieved 10 percent organic growth from its segment operations. 

“As we continue into the next phase of growth, we will continue to expand our geographic reach and our new launches, with the ultimate ambition of providing sustainable value for patients, shareholders, and stakeholders,” said Julphar CEO Essam Mohammed.

Established in 1980, Julphar employs more than 2,400 people and distributes pharmaceutical products to more than 50 countries across the globe.

These were the details of the news Egypt in preliminary talks to raise $2.5bn amid intensifying economic pressure: Bloomberg for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Arab News and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Emirates carried over 10m passengers this summer

Author Information

I am Joshua Kelly and I focus on breaking news stories and ensuring we (“Al-KhaleejToday.NET”) offer timely reporting on some of the most recent stories released through market wires about “Services” sector. I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for Al-KhaleejToday.NET specializing in quicker moving active shares with a short term view on investment opportunities and trends. Address: 838 Emily Drive Hampton, SC 29924, USA Phone: (+1) 803-887-5567 Email: [email protected]