Agthia Group PJSC, one of the top beverage and food companies within the United Arab Emirates, has reported a 22 percent increase in net profit from the first quarter of 2015 over the same months in 2014.
“Agthia has made a strong start to the year,” H.E. Eng Dhafer Ayed Al Ahbabi, Chairman of Agthia Group, said. “We continue to progress with our strategy of driving growth across all core categories, improving profitability, diversifying and launching new products, expanding distribution reach, strengthening brand support and, at the same time, addressing underperforming businesses.”
Agthia attributes the rise to higher sales, controlled overheads and improved margins. Additionally, as of Monday, Agthia’s net sales alone rose by 11 percent.
“The business has performed strongly in this first quarter, paving the way for another year of growth for Agthia,” Agthia CEO Iqbal Hamzah said. “We have made good progress delivering on our primary objectives, such as growing revenues, driving profitability and improving the performance of Capri Sun and our dairy category. With robust business fundamentals in place, and strong execution of our strategy, we aim to deliver encouraging returns to our shareholders.”