Abu Dhabi – Mubasher: Agthia Group, listed on the Abu Dhabi Securities Exchange (ADX), on Sunday reported a net profit worth AED 52 million during the fourth quarter of 2018.
Agthia’s net profits rose 2.1% year-on-year to AED 211 million in the full-year 2018, according to the company’s statement.
Earnings per share (EPS) recorded AED 0.35 last year.
“These results highlight our commitment to continued growth even in the face of challenges by transforming them into opportunities that positively impact our shareholders, consumers and partners,” Dhafer Ayed Al Ahbabi, chairman of Agthia, said.
Revenues of the UAE leading food and beverages company levelled up 2% year-on-year to AED 2 billion in 2018, the statement added.
“Agthia displayed strong performance across major metrics throughout our product portfolio in a year which was earmarked by aggressive competitive activity against the backdrop of declining consumer spend and changing purchasing habits, both at home and in international markets,” Tariq Ahmed Al Wahedi, CEO of Agthia Group, commented.
It is worth noting that the group’s net profit fell 4% to AED 159 million ($43.30 million) in the first nine months of 2018, against AED 164.7 million ($44.85 million) in the prior-year period.
By 11:03 am UAE time, Agthia Group’s stock stood at AED 3.90.
