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FINANCIAL NEWS
UAE’S Agthia Co. to double its income to USD 1bn
11 Feb 2016
(MENAFN) Abu Dhabi food and drinks firm Agthia Group is planning to double revenues by 2020 across living economic growth and achievements to reach USD 1bn.
Accordingly, the firm made a net income of USD 63mn a year earlier on a 13 percent increase in revenue to USD 509mn, increased by new products and exports.
However, Gulf economies predicted to slow as lower oil prices cut state spending, areas which are less influenced by the economic cycle like food, healthcare and education will spread.
The company forecasted a double-digit percentage increase in incomes and profit as the firm spreads in some of its business lines and launches new products.
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