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ABU DHABI / WAM
Agthia Group on Wednesday reported Q1 2019 net profit of AED40 million and revenue of AED508 million, representing revenue growth of 3.4 percent compared to the same period in 2018.
Dhafer Ayed Al Ahbabi, Chairman of Agthia, said, “Our core businesses maintained their growth momentum in the first quarter despite persistent market challenges. We continue to achieve this success not only through the introduction of innovative new products but through successful diversification of our geographical penetration and product portfolio.”
Agthia Chief Executive Officer Tariq Ahmed Al Wahedi said, “Agthia continues to retain a leading market position in multiple sectors, crowned by our continuously
growing market share in a heavily competitive UAE water market.”
The announcement of the Group’s first quarter results follows the conclusion of Agthia’s 14th Annual General Meeting held in March in Abu Dhabi, at which Agthia shareholders approved a cash dividend of 15 percent for an amount of AED90 million.