BRIEF: Gulf Pharmaceutical Industries Posts FY Loss Of 153 Mln Dirhams

  

GULF PHARMACEUTICAL INDUSTRIES GPHI.AD :

* FY NET LOSS 153 MILLION DIRHAMS

* FY NET SALES 863 MILLION DIRHAMS

* DECLINE IN REVENUE AND PROFITABILITY DUE TO THE HEADWINDS IN SAUDI ARABIA

* IN 2019, CHALLENGES STILL LIE AHEAD BUT WE ARE TAKING STEPS TO STRENGTHEN OUR FINANCIAL HEALTH"

* AS WE ASSESSED IMPLICATIONS OF VARIOUS FACTORS ON OUR BUSINESS, WE MADE DIFFICULT DECISION THAT WORKFORCE REDUCTIONS WERE NECESSARY"

Source:(https://bit.ly/2NleoBr) Further company coverage: GPHI.AD

((Reuters.Briefs@thomsonreuters.com;))

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