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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 Agthia Board for 2020, which is a 10% increase on 2019. Dividends will now be paid semi-annually Revenues...

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 world's biggest dates processing company. As for Nabil Foods, its products are distributed in more than 20 markets. “This acquisition...

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 series of consolidation and acquisition moves, as part of a strategy adopted by its parent entity AD...