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Food giant Agthia Group reaches near 5-year high on tasty Q1 results
- United Arab Emirates: Monday, April 29 - 2013 at 14:03
The Abu Dhabi market measure ADXGI slipped 0.17% to 3,272.53 points. Shares of food and beverage giant Agthia posted the third biggest gain, closing up 8.61% at Dhs2.90. Earlier in the day, Agthia said net sales during the first three months grew by 16% year-on-year to reach Dhs361m. Net profits reached climbed 38% year-on-year to hit Dhs37m. "Despite the challenging conditions facing the food and beverage markets, we are moving on our long-term strategy and are optimistic of good business performance and growth in 2013," said Rashed Mubarak Al Hajeri, Chairman of Agthia Group. CEO Ilias Assimakopoulos added, in 2013 "Agthia will focus on growing core businesses, consolidating and growing diversification initiatives while pursuing regional expansion and cost saving initiatives."
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Gérard Al-Fil, Financial JournalistMonday, April 29 - 2013 at 14:03 UAE local time (GMT+4)
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