UAE food group Agthia reaps rewards from acquisitions in strong first-quarter

UAE food group Agthia reaps rewards from acquisitions in strong first-quarter

UAE food group Agthia is reaping the rewards of recent acquisitions, posting a strong 17% revenue increase for the first-quarter compared to the same period in 2020.

The Abu Dhabi-based group added UAE date company Al Foah and Kuwait’s Al Faysal Bakery and Sweets to its first-quarter, posting its strongest year-on-year revenue growth in recent years.

This year’s first-quarter growth of 17% to 665.5 million dirhams ($181.2 million) is stronger than the company’s Q1 2020 growth of 12%, 2019’s rise of 3.4%, and 2018’s 3.7%.