Abu Dhabi, UAE, March 31, 2019 - Agthia Group PJSC, one of the UAE’s leading food and beverages companies, held its 14th Annual General Meeting on Thursday March 28th in Abu Dhabi at the Abu Dhabi Chamber of Commerce and Industry. Among other published agenda items, Agthia shareholders approved a cash dividend of 15% for an amount of AED 90 million.
Agthia Group had previously reported that net profit had increased to AED 211 million in 2018, 11% higher when non-repeating items were excluded from the previous year, while the Group’s gross profit margin reached 34.3 percent, 125 bps increase over last year. Agthia had also reported AED 2 billion revenues during the financial year ended 31st December 2018.
Eng. Dhafer Ayed Al Ahbabi, Agthia Group Chairman, said, “Agthia has once again demonstrated its resilience and achieved strong results in another difficult year. These results highlight the Group’s commitment to continued growth despite the challenges, by transforming them into opportunities that positively impact our shareholders, consumers and partners.”
Tariq Ahmed Al Wahedi, Agthia Group CEO, said, “Our cost optimization programs in addition to several other actions we have taken across our businesses has helped us protect our profit.”
Al Wahedi added, “We believe that in 2018 we have been successful in pursuing and delivering on our strategies and goals.
We remain committed to sustainable and profitable growth by providing our consumers with trusted quality foods and beverages.”
In 2018, Agthia opened its first water factory in Kuwait, increased its production capabilities in Saudi Arabia, and launched new innovative products including the world’s first vitamin D plain water Al Ain Vitamin D water and Al Ain Bambini baby water. Agthia products are today sold in over 30 countries around the world.
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Agthia Group is a leading Abu Dhabi based food and beverage company. Established in 2004, the Company is listed on the Abu Dhabi Securities Exchange (ADX) and has the symbol “AGTHIA”. 51 percent of the Company’s shares are held by Senaat (General Holding Corporation), an Abu Dhabi Government entity, with the balance held by retail and institutional investors. The Company’s assets are located in the UAE, Saudi Arabia, Kuwait, Oman, Egypt and Turkey. Agthia offers a world class portfolio of integrated businesses providing high quality and trusted food and beverage products for customers and consumers across the UAE, GCC, Turkey and the wider Middle East. More than 4,000 employees are engaged in manufacturing, distribution and marketing various food and beverage products: Water (Al Ain, Al Bayan, Alpin Natural Spring Water, Delta, Bambini); Flour (Grand Mills); Animal Feed (Agrivita, Agrivita Marabea); Juices (Al Ain Fresh, Capri Sun); Dairy (Yoplait); Processed Food (Al Ain Tomato Paste, Frozen Vegetable); Ambient and Frozen Bakery (Grand Mills). For more information: www.agthia.com | email@example.com | Tel: 971 2 506 0600.