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ABU DHABI / WAM
Agthia Group shareholders approved a cash dividend of 15 percent for an amount of AED90 million during its recent 14th Annual General Meeting in Abu Dhabi.
Agthia Group PJSC, a UAE food and beverage company, had previously reported that net profit had increased to AED211 million in 2018, 11 percent 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 AED2 billion revenues during the financial year ended December 31, 2018.
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 optimisation programmes in addition to several other actions we have taken across
our businesses has helped us protect our profit.”
“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,” Al Wahedi added.
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’, and ‘Al Ain Bambini’, baby water. Today, Agthia products are sold in over 30 countries worldwide.