Ghitha achieves 100% revenue growth in 2023

Ghitha achieves 100% revenue growth in 2023

The Group reported strong revenue of AED 4.6Bn (+100% YoY) Operational profit growth of AED 99Mn; +64% YoY EBITDA growth of AED 79 Mn; +22% YoY (Excluding fair value changes in investments) Total Assets of AED 7.1 Bn; +32% YoY Abu Dhabi, UAE: Ghitha Holding PJSC (ADX:Ghitha), the Abu Dhabi headquartered  conglomerate that consolidates Food, Agriculture, Fish, Dairy, Poultry, Vegetable Oil, retail, distribution and catering services, and is a subsidiary of International Holding Company (ADX: IHC), has released its financial results for 2023. The group reported an operating profit of AED 254 million, reflecting their commitment to operational excellence and efficiency. Driven by stellar performance and sustained business momentum, Ghitha achieved a milestone revenue of AED 4.6 billion, indicating a significant growth rate of +100% compared to 2022. This noteworthy growth, can be attributed to successful execution of strategic acquisitions, a comprehensive expansion across diverse categories and geographies. The Group has now recorded nine consecutive quarters of revenue growth. Mr. Falal Ameen, Group Chief Executive Officer of Ghitha Holding, said: "Ghitha delivered another robust financial year, fueled by a clear vision and steadfast dedication to rapid growth. Our strategy is focused on bolstering the success of our leading brands and