RIYADH: UAE food giant, Agthia Group, has posted a net profit increase of 535 percent after revenues grew 49 percent in 2021.
Profit reached 216 million dirhams ($85 million), up from 34 million dirhams last year, according to an Abu Dhabi Securities Exchange filing.
Revenues grew from 2 billion dirhams to more than 3 billion dirhams ($816 million).
Group's positive performance was attributed to its strategy of driving growth and diversifying revenue streams, as well as newly acquired entities in the segment.
“Revenues in 2021 improved markedly following key strategic acquisitions in the Protein and Snacking segments,” CEO of Agthia Group, Alan Smith said.
