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FINANCIAL NEWS
UAE- Agthia Group posts 44.5% climb in 2012 profit
27 Feb 2013
(MENAFN) Agthia Group announmced that its net profit surged by 44.5 percent in 2012 from a year before to USD34.02 million, reported Gulf News.
The food and beverages firm attributed the strong results to the rise of 4.5 percentage point in gross profit margin.
The company said that its Agri Business Division that manages, manufactures, distributes and markets Grand Mills, posted an increase of 11 percent in net sales to USD232.30 million.
Meanwhile, the firm’s Consumer Business Division, which manages, makes, distributes and markets a number of well-known consumer brands reported a jump of 26 percent in net sales to USD128.74 million.
It is worth noting that the year saw a 16-percent growth in Agthia Group’s net sales to USD362 million.
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