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Agthia Group today reported Q1 2018 net profit of AED47 million on revenues of AED491 million, representing like-for-like revenue growth of 3.7 percent compared to the same period in 2017. Agthia’s like-for-like profit growth amounted to 10.1 percent, fuelled by cost optimisation efforts across most lines in its consumer goods business.
Speaking on the occasion, Dhafer Ayed Al Ahbabi, Chairman of Agthia, said, "Despite a challenging operating environment that saw the introduction of VAT and other headwinds, Agthia continued to grow in line with our 2020 strategy. We began 2018 with major steps that speak to our dedication as innovators in all of our industries, and we intend to continue to grow all of our businesses through the same kind of innovative thinking."
The announcement of the Q1 results follows the conclusion of Agthia’s 13th Annual General Meeting held on 26th April, in Abu Dhabi. Among other published agenda items, a cash dividend of AED0.15 per share has been approved by the AGM. Shareholders entitled for cash dividends are those recorded in the Share Register on Sunday, 6th May, 2018.
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