UAE food giant Agthia puts out healthy gain on revenue, with net profit up to Dh206m

UAE food giant Agthia puts out healthy gain on revenue, with net profit up to Dh206m

Agthia Group's latest financials reflect a combination of higher demand across its product categories as well as favourable pricing gains.

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Dubai: The Abu Dhabi food company Agthia ticked all the boxes, with revenues up 10.9 per cent to Dh3.27 billion for the nine months to end September. That in turn nourished the net profit tally to Dh206 million, up by a healthy 12.9 per cent. (This comes despite the Dh39 million ‘additional interest costs’ compared to 2022.)



Food commodity prices and higher demand contributed to Agthia’s numbers, as well as gains from its expanding base outside of the UAE. But in Egypt, it did face headwinds from the depreciating currency. Excluding this factor, net revenue was higher 20.7 per cent and net profit by 27.3 per cent.







“Another strong and profitable outturn this quarter,” is how Alan Smith, Group CEO, sees it. It was ‘accompanied by continued investment in capability to future-proof growth’ and testament to Agthia’s strategy of acquiring, integrating, and growing attractive businesses in value-add categories’.



That’s a fact, with deal-making seeing Agthia have interests in Jordan, Saudi Arabia and Egypt. The company,