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FINANCIAL NEWS
UAE’s Agthia Group’s Jan-Sep sales jump 14%
30 Oct 2011
(MENAFN) Agthia Group’s chairman, Rashed Mubarak Al Hajeri, said that in the January-September period, the UAE’s food and beverage group’s sales grew 14 percent from 2010’s same period to USD228.9 million, reported Arabian Business.
Al Hajeri added that sales in the water and beverages division surged 22
percent to USD64 million driven by a rise in water and Capri Sun juice’s sales.
He also said that Agthia’s flour and animal feed unit went up 12 percent from 2010’s same period to USD153 million, whereas the processed fruits and vegetables unit rose by 4 percent.
It is worth noting that due to a 4 percent decline in gross margin, net profit in 2011’s first nine months dropped 24 percent from 2010 to USD16 million.
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