Agthia Group, a leading Abu Dhabi-based food and beverage company, has delivered a strong performance during the first half of this year, with its net profit growing 31.8% year-on-year to AED190 million ($51.73 million).

 

The group net revenue rose by 14.7% YoY to AED2.5 billion, a statement said.

In line with the group’s semi-annual dividend policy, Agthia’s board of directors has recommended the distribution of AED85.7 million as an interim cash dividend (equivalent to 10.31 fils per share). This represents a 25% year-on-year increase. The dividend payment is subject to shareholders approval at Agthia’s next AGM, it said.

The group’s profitable growth across all four segments, combined with leveraging group-wide efficiencies, resulted in both Group EBITDA and Group net profit growing faster than revenue, it said.

 

Khalifa Sultan Al Suwaidi, Chairman of Agthia Group, commented: “Agthia continues to deliver strong performance, solidifying our growth momentum in the first half of the year. Our unwavering commitment to strengthening our business and achieving our long-term goals remains clear. This quarter’s results underscore our resilience and strategic focus on driving sustainable value across our diverse portfolio. Going forward, we are well-positioned to seize opportunities in the MENA region and beyond, leveraging our strengths in innovation, digitalisation, and operational excellence.”

 

Alan Smith, Group Chief Executive Officer of Agthia Group, said: “Agthia delivered solid top and bottom-line results in the first half of the year, reaffirming our ability to navigate effectively challenging and dynamic operating environments. Our teams maintained their focus and agility in the execution of our long-term growth strategy, and we continue our efforts to drive sustainable long-term growth by investing in our brands, capturing synergies and driving efficiency gains.”-Trade Arabia News Service