Al Ittihad Drug Store posts 13 percent sales growth in 2015
The growth came as the company hit nearly $43 million in sales this year compared to the almost $38 million in sales registered in the first half of 2014.
IDS’ sales mirror the overall growth recorded by the pharmaceutical industry in the United Arab Emirates, which saw a collective growth of around 12 percent.
The company witnessed significant growth in its consumer division, where IDS recorded 25 percent organic growth. The consumer division has grown from the maturation of existing portfolio and the launch of new products.
IDS is in the midst of a hiring spree across the company’s divisions, which is expected to continue through the end of 2015. The company has also been heavily investing in improving IT and logistics infrastructure, which should show long-term productivity and efficiency boosts.
“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,” IDS CEO Ahmad Tabari said. “We have already achieved 57 percent of our annual target in the first half of 2015, which reflects our outstanding performance and that a right strategy is in place.”