Font Size

- Aa +

Sun 8 Jun 2008 04:00 AM

Font Size

- Aa +

Abu Dhabi’s AGTHIA to take on multinational drink players

Abu Dhabi's FMCG heavyweight will manufacture and distribute Capri-Sun from the first quarter of 2009, its CEO has revealed.

Abu Dhabi's FMCG heavyweight will manufacture and distribute Capri-Sun from the first quarter of 2009, its CEO has revealed.

AGTHIA CEO Ilias Assimakopoulos announced at its recent AGM that its "focus on driving the company to new levels of growth and success has clearly paid off.

"Our financials clearly indicate that our target of solidifying business fundamentals in key business operational areas has driven results."

Abu Dhabi-based AGTHIA, the parent company of Grand Mills for Flour & Feed, Al Ain Mineral Water and Al Ain Vegetable Processing & Canning Factory increased sales by 33.5% to AED 578.7 million (US $175.5 million) and announced a net profit increase of 31.1% to AED 38.1 million ($10.3 million).

The combined Flour & Feed sales registered 39% growth to AED 158 million ($43 million) over the corresponding 2007 period.

AGTHIA will manufacture and distribute Capri-Sun from the first quarter of 2009. "The outlook for 2008 is positive and we are further geared up for an even better and healthier business performance in the years to come," said H.E. Rashid Al Hajeri, chairman of the board.

For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.