Agthia records Dh1B H1 revenue in tough market

abu dhabi — Agthia Group on Tuesday said its 2018 first-half net profit rose one per cent to Dh109 million while revenues climbed to Dh1.01 billion due to the group’s focus on cost efficiencies and optimisation.

Agthia’s flagship water brand, Al Ain Water, retained its market leading position in the UAE on account of strong volume sales in the bottled water and 5-gallon water categories. The group’s food category, which includes the company’s Egypt operations, continued its turnaround with net revenues reaching Dh105 million, an increase of Dh14 million or 15 per cent.

“Agthia was able to not only withstand various market pressures in the first half of the year, but also thrive and continue with the remarkable profit turnaround of some of our categories. Agthia will continue to work hard to keep our promise to continually deliver sustainable profitable growth for the benefit of all of our stakeholders,” Dhafer Ayed Al Ahbabi, chairman of Agthia, said.

Tariq Ahmed Al Wahedi, chief executive officer of Agthia, said Agthia will continue to innovate and enrich its product portfolio.

“In the first six months of the year, we grew our feed, food and water businesses and our signature product, Al Ain Water, maintained its clear leadership in the UAE at 29 per cent and 27 per cent volume and value market share respectively. We remain committed to producing highquality, essential products for our customers,” Al Wahedi added.