Excluding the company's recent acquisition of Al Bayan Water Co, the group said profit and sales grew by 18 per cent and 11 per cent, respectively.
Published: Tue 9 Feb 2016, 11:00 PM
Updated: Wed 10 Feb 2016, 7:33 AM
Agthia Group on Tuesday said its 2015 net profit surged 20 per cent to Dh231 million while net sales climbed 13 per cent to Dh1.87 billion driven mainly by flour, water and beverages and dairy.
Excluding the company's recent acquisition of Al Bayan Water Co, the group said profit and sales grew by 18 per cent and 11 per cent, respectively. "Agthia has set an ambitious target - to become the leading food and beverage company in the UAE in our chosen categories. Our performance over the last year shows that we are making strong progress towards this target and have the right strategy in place to deliver sustainable and profitable growth for our shareholders," Eng. Dhafer Ayed Al Ahbabi, chairman of Agthia Group, said.
Iqbal Hamzah, chief executive officer of Agthia, said: "We have defined and started to execute our new strategy for accelerated growth. While we expect the current volatility across global markets to continue, the fundamentals of our business are strong, and continued focus on our core categories will ensure sustainable value creation for our shareholders."
- business@khaleejtimes.com
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