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FINANCIAL NEWS
UAE-Agthia Group net profit grows 14 percent in Q1
10 May 2016
(MENAFN) Agthia Group, the UAE leading Food and Beverage Company posted a 14 percent increase in net profit to USD 18.51mn in Q1 of this year.
Accordingly, the firm proclaimed that its revenue increased 12 percent to USD 132.28mn in the period, while the higher revenues were driven by water.
Additionally, net revenues reached USD 55.52mn, up 28 percent through Q1 2015, driven by double digit growth in water and a strong performance in dairy.
Moreover, net profit increased 9 percent to USD 19.59mn, driven by higher sales in flour and improved gross margin owing to lower commodity prices.
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