31.8% growth in net profit "Food" During the first half
Abu Dhabi, 6th August, 2019 (WAM) — Agthia Group today announced its financial results, which witnessed a 31.8% growth in net profit before interest, taxes, depreciation and amortization (EBITDA) during the first half of this year, reaching AED 190.0 million, with a net profit margin of 7.5%, reflecting an expansion of 98 basis points.
The group indicated, in a statement, that its net revenues increased by 14.7% year-on-year to reach 2.5 billion dirhams.
The Board of Directors of Agthia Group has recommended the distribution of AED 85.7 million (equivalent to 10.31 fils per share), in line with the Group’s semi-annual distribution policy, representing a 25% increase on an annual basis. The dividend distributions are subject to the approval of shareholders at the upcoming Agthia Group General Assembly.
Khalifa Sultan Al Suwaidi, Chairman of Agthia Group, said: “Agthia continues to deliver strong performance, building on our growth momentum in the first half of the year. Our unwavering commitment to strengthening our business and achieving our long-term goals remains clear. This quarter’s results highlight our resilience and strategic focus on creating sustainable value across our diverse portfolio. Going forward, we are well positioned to capitalize on opportunities in the MENA region and beyond, leveraging our strengths in innovation, digitization and operational excellence.”
For his part, Alan Smith, CEO of Agthia Group, said: “The Group delivered strong results in the first half of the year, confirming our ability to effectively deal with challenging and changing operating environments. We also continue our efforts to drive sustainable growth over the long term by investing in our brands, leveraging synergies, and increasing efficiency.”
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