Agthia Group has announced a 32% increase in net profit for the first half of 2024, fueled by a 14.7% rise in net revenue to Dh2.5 billion. These robust financial results reflect a healthy organic revenue growth of 9.3%, excluding a one-time gain from wheat sales in the first quarter. Innovations contributed significantly, accounting for 45% of the Group’s growth during this period. All business segments positively impacted revenue growth, with the snacks segment leading the charge. The EBITDA margin expanded by 65 basis points year-on-year to 15.1%, driven by strong performance across all segments.
Alan Smith, CEO of Agthia Group, commented: “Agthia remains focused on operational excellence, with strategies like product mix optimization, cost efficiency, and automation enhancing our margins. Our dedication to sustainability is showcased through our efforts in lowering carbon emissions and embracing renewable energy sources. We continue to lead the UAE water market with Al Ain bottled water, and our international expansion, especially in Oman and Kuwait, has been successful.”
“Agthia’s strong financial footing allows us to pursue growth opportunities, including mergers and acquisitions. Our goal is to create enduring value for our shareholders and contribute to the communities we serve. I am impressed by our team’s accomplishments and their steadfast commitment to excellence. We are poised to seize future growth opportunities and further solidify our status as a premier food and beverage company in the region.”
