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There will also be a drop in horizontal visibility as light to moderate winds are expected, causing blowing dust
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Agthia Group sales rise; net profit falls in Q1
DUBAI — Abu Dhabi-based food and beverage company, Agthia Group, which on Wednesday reported its financial results for the first quarter, said its sales rose while net profit fell compared to the same period last year.
Agthia said its net sales rose by four per cent to Dh232 million over the corresponding period in 2009, while net profit of Dh27.3 million was down due to an extraordinary one off profit in same period of 2009. However, net profit for the first quarter grew 154 per cent quarter-on-quarter, demonstrating continued profitable growth as a result of its continued diversification and distribution expansion. “The first quarter of 2010 saw a continuation of profitable growth, with the overall business performance being in line with our expectations. The past three years have seen an ongoing transformation of the business and we have achieved a strong and efficient platform from which the sustainable growth phase of our strategy can be executed with confidence. The business plans for this phase are designed with the underlying strategic goal in mind: to increase shareholder value and to become UAE’s leading food and beverage group,” Agthia Chairman Rashed Mubarak Al Hajeri said. — business@khaleejtimes.com
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