GHITHA HOLDING P.J.S.C.

Ghitha Holding PJSC reported an 11% year-on-year revenue growth, reaching AED 3.67 billion for the first nine months of 2024. The company's gross profit increased by AED 188 million, a 36% growth from the previous year. EBITDA represents about 10% of revenue, excluding fair value changes in investments. Total assets grew by 33% since December 2023, totaling AED 9.4 billion. Ghitha, based in Abu Dhabi and a subsidiary of International Holding Company, attributes its growth to strategic initiatives such as acquiring key assets, entering new markets, and diversifying product lines. CEO Falal Ameen highlighted the company's strong performance despite market challenges, positioning it for future growth. Moving forward, Ghitha aims to enhance financial performance and operational efficiency, aligning with its vision to become a leading regional food powerhouse, while focusing on process improvement and market adaptability.

Ghitha Holding PJSC has released its interim condensed consolidated financial statements for the nine-month period ending on September 30, 2024.

Ghitha Holding PJSC reported an 18% increase in revenue for the first half of 2024, reaching AED 2.45 billion. The company's gross profit grew by 57% year-over-year to AED 176 million, and EBITDA remained strong at approximately 10% of revenue. Total assets increased by 33% since December 2023, amounting to AED 9.4 billion. The company also signed an agreement to acquire Marmum Dairy Farm, which is expected to strengthen its market position and enhance its presence in the dairy industry. Group CEO Falal Ameen attributed the company's performance to its strategy of acquiring strategic assets, market penetration, organic growth, and product diversification, despite challenges such as supply chain disruptions and commodity price volatility.