reports
- Ghada JENDOUBI
Stagnating top-line
Julphar reported FY 2016 slight revenue decline of 1.1% to AED1.454bn vs. AED1.47bn a year earlier. The net operating profit decreased by 8.9% to AED229.23m, down from AED249.68m in 2015. The net income for the period was down by 7.3% to AED210.03m vs. AED226.65m a year earlier. Thus, the net margin rate lost 100 basis points to establish at 14.4%.
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A flat revenues growth.
Julphar recorded Q4 2015 net profit increase of 4.8% to AED79.1m (vs. AED75.5m in the same period of 2014). FY2015 consolidated sales reached AED1439.8m, a weak organic growth of 0.5% compared to 2014. The operating income grew by 13.6% to AED271m, setting the operating margin at 18.8%, and bringing the annual net profit to AED243.5m, an increase of 3.75% compared to 2014. Thus the net margin stood at 17% (vs. 16.4% in the previous year).
Q2 figures, a big smile
The H1 sales grew up 5%, yoy, to AED799.5M, pulled up by a 9% Q2 revenue increase. The operating profit jumped from AED115.8M to AED131.4M thanks to the improving gross margin and to the decreasing direct costs, up 1.6%. The net profit won 10% to establish at AED131.5M. The gross debts increased from AED703.3M, as of December, 2014, to AED887.3M as of June, 2015.
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