Page 3 - Agthia News Today

Agthia's net profit too sees sharp gain, with recent acquisitions playing a part

Agthia wants to acquire companies that are market leaders in their categories

Agthia wants to acquire market category leaders, rates Pakistan as priority market

The company is looking to scale up its operations in several existing markets such as Oman, KSA, Jordan, and Egypt

3 Min Read DUBAI (Reuters) - Emirati food and drinks group Agthia announced on Monday plans to become an industry leader in the Middle East and North Africa by 2025 through tighter efficiency and possibly further acquisitions, after a blitz of recent deals. The company has identified Egypt and Saudi Arabia, along with Kuwait, Oman and Turkey, as key markets in which it is seeking to expand further, Chief Executive Alan Smith told Reuters in a phone interview. “Those markets will be our priori...

Dubai: Abu Dhabi’s Agthia Group – one of the largest F&B businesses in the region – recorded ‘normalised’ net profits of Dh117 million for 2020. This excludes the Dh82 million in one-off gains the group recorded in the first nine months as part of a “strategic review”. Last year saw major changes within Agthia, which bought businesses in Kuwait and Jordan, and merged Al Foah, the world’s largest date processing company, into its fold. 16.5fils Dividend proposed by Agthi...

Dubai: Abu Dhabi Agthia Group will own 80 per cent in Jordan Nabil Foods, one of the biggest names in the region for frozen foodstuff. This includes the 60 per cent Agthia will pick up from another Abu Dhabi entity, ADQ, for Dh394 million. All of the regulatory approvals have been received for the deal to proceed, which was first announced last month. Agthia has in recent months been busy with acquisitions and mergers, including that done with Al Foah - the worlds biggest dates processing comp...

Dubai: The Abu Dhabi headquartered F&B giant, Agthia, recorded net profits of Dh34.5 million for 2020, derived from Dh2.06 billion in revenues. For 2019, the company had a net profit of Dh137 million on Dh2.04 billion in revenues. The numbers were driven by its consumer business, which made up 55 per cent of turnover. The food division also recorded gains, especially in the UAE and Egypt. It was in 2020 that Agthia - which owns the ‘Al Ain’ and ‘Al Bayan’ water brands - went through a ...