Juli Plc’s half-year profit slows to N15.65m in 2021
Juli Plc, marketers of a range of pharmaceutical products to wholesale and retail sectors in Nigeria, reported a slowdown in its half-year loss by 20.48 percent.
The company who also owns and operates supermarkets and trading stores reported a loss of N15.7 million in the first six months of 2021, N4.03 million less than the N19.68 million reported in the corresponding period of 2020.
The company’s performance in the review period was fueled by 50.5 percent increase in its turnover to N190.8 million in June 2021 from N126.76 million reported in the comparable period of the previous year.
Breakdown of Juli Plc’s financial results for the half year period ended 3oth of June, 2021 revealed that it’s cost of sales was up 51.6 ppercent to N137.8 million in the review period from N90.94 million recorded in the six months of the previous year.
The company’s administrative expenses in the period under review totalled N68.6 million in June 2021, 23.7 percent increase when compared to the N55.50 million recorded in the preceding year.
Meanwhile, the company’s total assets in the review period stood at N256.49 million 7.17 percent increase when compare to the N239.32 million reported in 2020.
Juli Pharmacy Plc originally marketed international pharmaceutical brands but diversified its positioning to produce its own brands of products.