Abu Dhabi, UAE– A Food and beverage company Agthia will pay a dividend of AED 65.31 million ($17 million) for the first six months of 2022.
The company’s H1 revenues reached AED 2 billion, up 51 percent year-on-year, and net profit grew to AED 118 million for the period, a 74 percent increase compared to H1 2021, which the company said reflected the impact of the Group’s recent acquisitions as well as its cost optimisation efforts as part of its five-year growth strategy.
In April 2021, the Group adopted a semi-annual dividend policy.
Agthia recently announced an AED 90 million investment in a manufacturing facility in Saudi Arabia to drive growth for its protein vertical and in response to strong demand from local customers. Also, in July 2022, the Board approved the acquisition of a strategic 60 percent stake in Auf Group, a specialised healthy snacks and coffee manufacturer and retailer in Egypt.