Abu Dhabi - Mubasher: The net profit of Agthia Group recorded a net profit of AED 117.2 million during the first nine-months of 2019, 26.1% lower than AED 158.6 million recorded in the same period a year ago.
Meanwhile, net revenues grew by 4.3% year-on-year to AED 1.55 billion this year from AED 1.48 billion in the nine months last year, backed by the consumer business which constitutes 57% of top-line, Agthia Group said in a statement.
Total assets stood at AED 3.1 billion on 30 September 2019, posting a 6.1% year-on-year growth from AED 2.96 billion a year earlier.
In this regard, the group’s Chairman, Dhafer Ayed Al Ahbadi, said, “Agthia was able to grow revenues and maintain leading market share despite challenging market conditions. Our financial performance demonstrates the Group’s resilience and commitment to enhancing and protecting shareholder value, by all means.”
It is worth remarking that over the first half of 2019, Agthia reported a 5.4% year-on-year increase in net revenues at AED 1.06 billion from AED 1.008 billion in the same period of the previous year.
