News Column

Agthia profit jumps 28% ?to Dh160 million

January 23, 2014

Agthia Group has reported preliminary unaudited results achieving a net profit of Dh160 million in 2013, an increase of 28 per cent, driven by strong sales and improved ?margins. Earning growth outpaced sales growth in 2013 due to improved gross profit margins in both the Agri Business Division and the Consumer Business Division resulting from an improved sales mix, competitive procurement, in-house production of previously outsourced feed volume, cost saving initiatives and higher flour pricing in the Northern Emirates. Total net sales increased 14 per cent year-on-year to Dh1.51 billion, driven by higher volumes. The consumer business division, which produces and distributes products including Al Ain Mineral Water, Yoplait fresh dairy products and Capri-Sun juices, delivered a 16 per cent increase in sales, while the Agri Business Division, which manufactures and distributes Grand Mills flour and animal feed products, reported 13 per cent sales growth. During 2013, Agthia relaunched its Yoplait portfolio of products with newly designed packaging, new low fat fruit yogurts, and additional flavours that saw sales more than doubling during the year. The company launched its Alpin spring water in Turkey and in selective UAE outlets, with a full-fledged UAE launch planned for the first quarter of 2014. Agthia also signed a distribution agreement for the Monster range of beverages, and launched Chakki Atta (whole wheat flour) products. The company's assets are located in the UAE , 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 . haseeb@khaleejtimes.com


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Source: Khaleej Times (United Arab Emirates)


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