Abu Dhabi – Mubasher: Agthia Group logged net profits amounting to AED 254.93 million in the first nine months (9M) of 2024, higher than AED 205.55 million in 9M-23.
Group net revenues jumped by 10.30% year-on-year (YoY) to AED 3.60 billion in 9M-24 from AED 3.27 billion, primarily driven by a strategic shift of our product portfolio towards higher growth segments in key target markets.
Basic and diluted earnings per share (EPS) climbed to AED 0.28 in 9M-24 from AED 0.22 in 9M-23.
Income Results for Q3-24
In the third quarter (Q3) of 2024, Agthia Group recorded higher net profits at AED 64.95 million, compared to AED 61.45 million in July - September 2023.
The revenues jumped to AED 1.08 billion in Q3-24 from AED 1.06 billion in Q3-23, while the basic and diluted EPS rose to AED 0.07 from AED 0.06.
Khalifa Sultan Al Suwaidi, Chairman of Agthia Group, commented: “Agthia's strong year-to-date performance reflects the strength of our diversified portfolio and strategic growth initiatives, even amidst global challenges such as currency fluctuations and inflationary pressures.”
Alan Smith, Group CEO of Agthia Group, said: “We have delivered solid revenue growth and expanded profitability across all segments, with 57% of our growth driven by innovation.”
“Despite external challenges, particularly in Egypt, we have maintained robust margin improvement through efficiency gains and prudent cost management,” Smith added.
In the first half (H1) of 2024, the company’s net profits hiked by 31.80% to AED 189.98 million from AED 144.10 million in H1-23.
