113 million dirhams total profits "Food Holding" In the first quarter of 2024
Abu Dhabi, 1st May / WAM / Food Holding Company, a subsidiary of International Holding Company, announced its financial results for the first quarter of the year 2024, which showed a noticeable increase in the group’s total revenues after recording 1.3 billion dirhams, and a growth that reached 41% on an annual basis, This is a clear indication that the company is moving forward in implementing its future strategic vision and consolidating the excellence of its operational processes.
The total profits of “Food Holding” in the first quarter of this year amounted to 113 million dirhams, while the total quarterly profits grew 87% on an annual basis, and earnings before interest, taxes and depreciation maintained a stable upward trend to represent 10% of total revenues (excluding changes Fair value in investments).
Food Company’s financial performance achieved a remarkable recovery, with its total assets increasing by 20%, achieving 8.5 billion dirhams, and strong growth that reflected the company’s excellent financial position, and was in line with its strategic objectives in supporting the national food security agenda, and its endeavor to maintain the momentum of its performance and achieve successive successes in The areas of financial performance and operational efficiency, in an accurate translation of the group’s future goals.
Falal Amin, CEO of Food Holding, expressed his pride in the company’s quarterly results, which are due to the skillful implementation of the group’s plans in the areas of strategic acquisition, achieving important market breakthroughs, organic expansion, and diversification of services and products.
He pointed out that these high numbers highlight the company’s strategic capabilities and understanding of the competitive environment, analyzing data, estimating future trends strategically, and making informed and innovative decisions to achieve its goals, which has strengthened its position as a leading company in the region, capable of adapting in an ever-evolving market.
On the financial front, the company witnessed strong growth in revenues and overall profits, which was the culmination of the successful implementation of its well-studied initiatives, while its operational sector was characterized by smoothness, improved use of resources, and the development of scalability to meet evolving market requirements.
As it seeks to achieve its goals, Food Holding continues its firm commitment to achieving financial and operational excellence, driving sustainable growth and enhancing returns to shareholders and stakeholders.
- For more: DC & People website and for social networking, you can follow us on Facebook
- Source of information and images “poosh“
