Agthia Group achieved an increase in profits in the fiscal year ending on December 31, 2021, where the group's net profit amounted to 216 million dirhams, a growth of 526%, or equivalent to an increase of more than 6 times, and its net revenues exceeded 3 billion dirhams, an increase of 49% over the previous year.
According to Arab Net, the revenue growth of the Abu Dhabi-listed company was driven by the strong growth rates achieved by the group in the chilled and frozen meat and snacks sectors as a result of a series of strategic acquisitions.
The Consumer Business Division's contribution to Agthia's revenue nearly doubled compared to last year, reflecting the positive growth achieved by the group.
This is mainly due to the positive momentum as a result of the new acquisitions of a number of companies in the sector within the framework of the group's strategy to stimulate growth and diversify sources of revenue. As a result, the chilled and frozen meat and snacks segments contributed 1.07 billion dirhams to the group's revenue in 2021.
The revenues of the Water and Beverage division also recorded a remarkable improvement in the second half of 2021 as a result of the increase in demand for the hotel and restaurant sectors.
The group's bottled water group maintained its leading position in the market in terms of volume and value, with 26% and 23%, respectively.
