One of the UAE’s top food and beverage groups has registered 16 percent growth in net sales for 2012, hitting AED1.33bn (US$362m), compared to AED1.14bn (US$310m) in 2011.
Agthia also said its net profit hit 44.5 percent growth year on year to reach AED125m ($34m), prompting the company’s board to recommend a cash dividend of five percent for its shareholders.
The consumer business division of Agthia manages, manufactures, distributes and markets several well known brands including Al Ain Mineral Water, Capri-Sun juices, Al Ain tomato paste and frozen vegetables, Yoplait dairy products and Chiquita juices. This arm of the company achieved net sales of AED473m (US$129m), up 26 percent on the previous year.
The agriculture business division, which manages, manufactures, distributes and markets Grand Mills – the leading flour and animal feed products in the UAE – recorded net sales of AED853.5m (US$232m), growing eleven percent.
Looking further into 2013, the company is set to launch rebranded Turkish spring water, Alpin, in the UAE, along with frozen baked products and an increased production capacity of poultry feed.
Flour milling capacity is also set to grow by 2014, as well as high speed bottle line commissioning, and new bottling lines in Turkey.