agthia achieves 12 increase in net sales
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Agthia achieves 12% increase in net sales

Arab Today, arab today

Arab Today, arab today Agthia achieves 12% increase in net sales

Abu Dhabi - Arabstoday

Agthia Group on Sunday released the Company’s financial results for first quarter ended March 31. Agthia delivered a strong volume, sales and profit growth in the first three months of 2012, achieving a 12 per cent increase in net sales year on year, reaching Dhs311 million and a strong profit growth of 21 per cent at Dhs27 million. Among the highlights of the first quarter of 2012, Agthia’s Consumer Business Division achieved net sales growth of 17 per cent year on year while the Agri Business Division grew by 10 per cent. The newly launched Yoplait fresh dairy products and Chiquita natural juices are progressing well; priority remains to drive distribution penetration across all retail segments while building strong in store presence and visibility. The response to the range of newly launched Al Ain fresh juices continues to be encouraging and the company is adding new customers. The Company completed the 100 per cent share acquisition of the Turkey based spring water company in March 2012. Plans are underway to revamp the brand, expand regional distribution in Turkey and launch the ‘natural spring’ drinking water in the UAE and wider GCC. Furthermore, the poultry feed production capacity expansion is on schedule for completion in Q4, 2012, while the frozen baked product launch is planned for Q2, 2013. Commenting on the results, Rashed Mubarak Al Hajeri, Chairman of Agthia Group said, “We are pleased with Agthia’s overall performance across all divisions in the first quarter of 2012. The volatility in the commodity market and the regional unrest pose as challenges, however the Company is progressing in line with its long term strategy. We remain optimistic and expect another year of good performance in 2012.” Ilias Assimakopoulos, Chief Executive Officer of Agthia, added, “We continue to focus on growth opportunities by consolidating the newly introduced products, driving the core business, expanding geographically, while addressing the challenge of higher input costs by pursuing cost savings initiatives. We look forward to the opportunities that will arise with the newly acquired spring water company. We expect 2012 to be another stepping stone year leading us to Agthia’s ambition of becoming the UAE’s leading food and beverage group.” In the first three months of 2012, net sales grew strongly by 12 per cent year on year reaching Dhs311 million. This performance is attributable to 17 per cent sales growth delivered by the Consumer Business Division and 10 per cent growth achieved by the Agri Business Division.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

agthia achieves 12 increase in net sales agthia achieves 12 increase in net sales

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

agthia achieves 12 increase in net sales agthia achieves 12 increase in net sales

 



GMT 23:04 2017 Monday ,04 December

Saudi Arabia recalls ambassador to Germany

GMT 02:47 2014 Monday ,17 November

Qatar Library to take part in Conference

GMT 18:17 2018 Friday ,07 September

US Defence Secretary arrives in Kabul

GMT 03:28 2018 Sunday ,21 January

Emirates throws Airbus A380 a lifeline

GMT 15:20 2017 Wednesday ,20 December

Oman Arab Bank launches advanced automation system

GMT 04:56 2017 Thursday ,22 June

ASEAN journalists conclude silk road media journey

GMT 08:08 2015 Thursday ,05 November

UAE media has matured, delivered remarkable successes

GMT 22:37 2016 Thursday ,17 November

Japan aims to increase food exports to GCC

GMT 08:40 2013 Saturday ,02 February

Saladin

GMT 00:12 2016 Sunday ,01 May

December 21 - January 18

GMT 05:35 2017 Wednesday ,25 October

Rio policeman who killed Spanish tourist charged
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday