Press releases, Reports & Disclosures for AGTHIA Group

Agthia Group, a leading food and beverage company in the UAE, has successfully completed the integration of BMB Group, a regional healthy snacks and food company, into its Snacking Division. The integration process, during which the founders of BMB Group shared their expertise with Agthia, marks the end of the transition period. Agthia has consolidated the remaining 20% economic interest in BMB Group, which is known for its innovative confectionery, healthy snacks, and food products. The Agthia Snacking Division will continue to manage BMB and develop the company to strengthen its position in the MENA region's snacking sector. BMB Group, headquartered in Dubai, manufactures and distributes a wide variety of products for its own brands and partners.

Resolution No. (352) of 2024 announces the temporary suspension of trading on AGTHIA Group shares. This is due to the group's AGM being held at 11:00 on 23-Apr-2024, which coincides with the trading session at ADX. The trading suspension will start from 09:00 on the same day until the AGM results are received by ADX. All department heads at ADX are required to execute this resolution. The resolution will be circulated to SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution was issued on 28/03/2024.

The text is a report and consolidated financial statements of AGTHIA GROUP PJSC for the year ending on 31st December 2023. The document provides a detailed account of the company's financial performance over the said fiscal year.

Agthia Group PJSC, a leading food and beverage company in the UAE, reported a net revenue of AED 4.56 billion and an underlying group net profit of AED 342 million for the year 2023, surpassing its guidance ranges. The group's net revenue increased by 12.1% YoY, ahead of the expected 10-12% range, and the underlying group net profit increased by 25.5% YoY. The board approved a 12% cash dividend increase and 5% bonus shares. The group's strong performance in 2023 was driven by profitable growth in the Snacking, Water & Food, and Agri-Business segments. Despite currency devaluation in Egypt, the group's net revenue increased by 20.7% and LFL revenue by 13.8%. The company also plans to increase full-year cash dividends by 12% to 18.5 fils per share and give an additional 5% bonus shares to existing shareholders, subject to AGM approval.