UAE - Mubasher: The net profits attributable to the owners of Agthia Group hiked to AED 103.297 million during the first nine months of 2021 from AED 9.87 million in the same period of 2020, as shown by the company's consolidated financials for nine-month period ended 30 September 2021.

The company generated revenues of AED 2.113 billion in the January-September period of 2021, up 34% year-on-year (YoY) from AED 1.581 billion.

The basic and diluted earnings per share (EPS) settled at AED 0.139 in the first nine months of 2021, compared to AED 0.016 in the corresponding period of 2020.

During the third quarter (Q3) of 2021, the company achieved net profits attributable to the owners of AED 35.377 million, against net losses of AED 32.392 million in the corresponding quarter of 2020.

The Chairman of Agthia Group, Khalifa Sultan Al Suwaidi, said: "Our growth has been skilfully supported by an institutionalised modular approach to integration of new units to our business - driven by seamless transitions, productivity and value creation – reiterating the three pillars of growth, efficiency and capability of Agthia’s 2025 Strategy to become an F&B leader in the MENAP region."

Meanwhile, the CEO of Agthia, Alan Smith, commented: "With Al Faysal, our priority has been to ensure that routine business remains undisturbed, while seizing new cross-distribution opportunities and unlocking potential commercial synergies."

It is noteworthy to mention that during the first half (H1) of 2021, the company's net profits increased by 61% to AED 67.92 million, compared to AED 42.263 million in the same period of 2020.