IDS announces growth of 13% in total sales turnover in first half | Gulf Times – UAE
During the H1 of 2015, the company has packed, shipped and delivered more than 2.6 million units, out of this, 1.3 million units was achieved in the first quarter of 2015
Al Ittihad Drug Store (IDS), one of the UAE’S leading pharmaceutical distributors, has announced its financial results for the first half of the year 201, wherein the company has posted a 13% growth in total sales turnover by reaching AED 157.528 million as compared to the AED 139.3 million registered in the first half of the year 2014.
This growth showcases positive impact for the company, as the overall growth recorded by the industry is 12%.
The company has also witnessed a significant growth in the Consumer Division, wherein IDS recorded 25% organic growth. The Consumer Division has grown from AED 15.8 million to AED 19.8 million in the first half of 2015.
This significant increase is the result of organic growth from the existing portfolio and the launch of new products. Because of the recorded organic growth and the new business opportunities available within the healthcare industry, IDS has been on a high spree across the divisions and this trend is expected to go till the end of 2015. Additionally, IDS has been investing heavily on improving its IT and logistics infrastructure.
Another achievement recorded during the first half of 2015 is that the company has packed, shipped and delivered more than 2.6 million units in the first half, out of this, 1.3 million units was achieved in the first quarter of 2015.
Speaking on the occasion, Mr. Ahmed Tabari, Group CEO, said, “It is of immense pleasure for us at IDS to be able to announce such positive results, which have been achieved by the joint effort of each and every employee in the organization.
We have already achieved 57% of our annual target in the first half of 2015, which reflects our outstanding performance and that a right strategy is in place. Also, we are in the process of signing up with new principals which will help us reach new heights. We are hoping to outperform our set annual target and set a new benchmark in the industry.
In the first quarter of 2015, IDS has partnered with two new principals, namely Fillerina, an innovative product in the anti-aging category, and Medcoll, a premium collagen product. We have also launched an innovative line extension for PIC Insulin Pen Needles. In the second quarter, IDS has signed a new contract with one of the leading hair care principles from Italy and is expected to start operations around the fourth quarter of the year.