Abu Dhabi – Mubasher: The net profits of Agthia Group stood at AED 189.98 million in the first half (H1) of 2024, marking an annual rise of 31.80% from AED 144.10 million.
Revenues from contracts with customers amounted to AED 2.51 billion in H1-24, higher by 14.70% year-on-year (YoY) from AED 2.20 billion, according to the financial results.
Basic and diluted earnings per share (EPS) grew to AED 0.21 as of 30 June 2024 from AED 0.15 in H1-23.
Total assets hit AED 6.14 billion at the end of June 2024, versus AED 6.64 billion as of 31 December 2023.
Income Results for Q2
In the second quarter (Q2) of 2024, the net profits hiked to AED 62.38 million from AED 47.41 million, while the revenues increased to AED 1.07 billion from AED 1.01 billion.
Meanwhile, the basic and diluted EPS amounted to AED 0.06 in Q2-24, higher than AED 0.04 a year earlier.
Dividends
The company’s board members approved distributing interim dividends of 10.31 fils per share with a total amount of AED 85.70 million to the company’s shareholders.
Khalifa Sultan Al Suwaidi, Chairman of Agthia Group, commented: “This quarter's results underscore our resilience and strategic focus on driving sustainable value across our diverse portfolio. Going forward, we are well-positioned to seize opportunities in the MENA region and beyond, leveraging our strengths in innovation, digitalisation, and operational excellence.”
Alan Smith, Group CEO of Agthia Group, said: “In early July, we officially launched our state-of-the-art protein facility in Jeddah, solidifying our position and establishing one of the key growth drivers for Agthia in the largest market in the GCC. The results of the first half of the year build a strong foundation for Agthia, and we reiterate our full-year guidance.”
In the first three months (3M) of 2024, the UAE-based group witnessed an annual surge in net profit to AED 127.59 million, compared to AED 96.69 million.
