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FINANCIAL NEWS
Agthia Group reports a 50 percent increase in net profit
31 Jul 2013
(MENAFN) The Abu Dhabi-based food company, Agthia Group, reported a profit boost with a 50 percent increase in the six months period ending June 30, The National reported.
The food and beverage giant reported that sales climbed 19 percent hitting USD208 million and net profit surged 56 percent compared to data from the same time last year reaching a net profit of USD 23.7 million.
Rashed Mubarak Al Hajeri, the company chairman, said, “Agthia is making good progress on its strategy, focusing on profitably growing core business and improving performance of our recently launched products as well as our Egyptian and Turkish operations.”
Sales in the consumer business division climbed 25 percent compared to the same period last year reaching USD73.7 million this first half.
“The company remains focused and will push ahead with growth plans through new product introductions, capacity expansions, as well as expanding our footprint across the GCC markets,” Al Hajeri added.
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