Agthia reports 22% rise in profit


February 9, 2015 | By RetailME Bureau

UAE-based Agthia Group reported 22% rise in its full-year net profit in 2014 touching $52.6 million, while its net sales grew 9% to $450 million during the said period.

The company attributes this significant growth in profit to higher sales and strong margin improvements, adding that gross profit margins rose to 28%, following an aggressive focus on the competitive sourcing of grains, ongoing cost saving initiatives, in-house production of previously outsourced animal feed and stable flour pricing in the northern emirates.

“Last year was very strong for Agthia, with new products launches, installation of a new water bottling line, commencement of production of frozen baked goods and our mega distribution centre becoming fully operational,” shares Dhafer Ayed Al Ahbabi, chairman of Agthia Group. “We are well placed to further grow our business by expanding our product portfolio and distribution reach going forward.”

“We have built a solid platform to accelerate the development of our business, and I am confident that 2015 will be another successful year for the company,” adds Iqbal Hamzah, CEO of Agthia.

Previous Article Next Article

SHARE

YOU MAY ALSO LIKE /


Jean-Luc Graziato, Chief Commercial Officer of Majid Al Futtaim – Retail and Alia Al Harmoodi, Acting CEO of the Environment, Health and Safety Agency

Majid Al Futtaim – Retail, which holds the exclusive franchise to operate 

Continue Reading

February 20, 2024 | By RetailME Bureau
Krishna Dhanak, Managing Director, Alpen Capital

In an exclusive interview Krishna Dhanak, Managing Director, Alpen Capital shared insights 

Continue Reading

February 19, 2024 | By Rupkatha B
Majed M. Al-Tahan, Co-founder & Managing Director, Danube Online

As digital transformation across the retail industry continues to accelerate, the expectations 

Continue Reading

December 19, 2023 | By RetailME Bureau
Frederic Levy-Perrault, CEO, Al Raya Supermarket

Saudi Arabia-based grocery retail chain Al Raya Supermarket serves over 100,000 customers 

Continue Reading

December 15, 2023 | By RetailME Bureau
Ahmad AR. BinDawood, Chief Executive Officer, BinDawood Holding

BinDawood Holding has a rich Saudi heritage, spanning over 50 years, 38 

Continue Reading

December 13, 2023 | By RetailME Bureau
Majid Al Futtaim Retail commits to Collaborative Impact Goals at COP28

Majid Al Futtaim Retail, which owns the exclusive rights to operate Carrefour 

Continue Reading

December 8, 2023 | By Rupkatha B
BinDawood Holding Company earns Honorary Shield for Compliance Excellence

BinDawood Holding Company has earned an Honorary Shield, a distinguished recognition by 

Continue Reading

December 6, 2023 | By RetailME Bureau
First Movers Coalition for Food to create up to $20-bn value chain for sustainable farming

The World Economic Forum, with support from the Government of the United 

Continue Reading

December 5, 2023 | By RetailME Bureau
Food consumption in the GCC to grow at a steady pace

Food consumption in the GCC is set to grow at a CAGR 

Continue Reading

November 29, 2023 | By RetailME Bureau
Carrefour urges customers to ‘Choose Better’

Carrefour, operated by Majid Al Futtaim in the UAE, has set up 

Continue Reading

November 28, 2023 | By RetailME Bureau
GMG opens Monoprix outlet in Abu Dhabi

GMG’s Everyday Goods – Retail division is now expanding into the country’s 

Continue Reading

November 27, 2023 | By RetailME Bureau
Spinneys to open second store in Riyadh’s KAFD in partnership with Al-Hokair Group

Following a partnership deal between food and grocery retailer Spinneys Dubai and 

Continue Reading

November 22, 2023 | By RetailME Bureau




Download Images RetailME Magazine