Abu Dhabi – Mubasher: Agthia Group posted a 22.4% year-on-year drop in its profits during the first quarter of 2017, according to a statement.
Profits reached AED 52.4 million ($14.26 million) in Q1-17, compared to AED 67.5 million ($18.37 million) in Q1-16.
Selling and distribution expenses rose 27.6% to AED 91 million in the three-month period ended 31 March 2017, compared to AED 71.3 million in the prior-year period.
General and administrative expenses reached AED 41.74 million in Q1-17, up 20.4% from AED 34.67 million in Q1-16.
Total operating profits declined 22.4% to AED 51.63 million in Q1-17, compared to AED 66.5 million in Q1-16.
