Abu Dhabi – Mubasher: Agthia Group achieved net profits attributable to the shareholders worth AED 158.55 million in the first nine months (9M) of 2022, higher than AED 103.29 million in 9M-21.

Revenues amounted to AED 2.94 billion in January-September 2022, up from AED 2.11 billion during the same period a year earlier, according to the financial results.

The basic and diluted earnings per share (EPS) rose to AED 0.200 in 9M-22 from AED 0.139 in 9M-21.

During the third quarter (Q3) of 2022, the net profits attributable to the owners of Agthia surged to AED 40.45 million from AED 35.37 million in Q3-21

Meanwhile, the revenues grew by 20% year-on-year (YoY) to AED 953.54 million in the July-September 2022 period, compared to AED 795.13 million.

The basic and diluted EPS stood at AED 0.051 during Q3-22, versus AED 0.045 in the year-ago period.

Alan Smith, CEO of Agthia, said: “Despite a challenging external backdrop, I am pleased to report another quarter of profitable growth, combining strong performance from recently acquired businesses and our enduring focus on efficiency generation.”

Smith added: “We continue to consolidate our strategic acquisitions made in 2022 and 2021 and look forward to completing the acquisition of Auf Group – having already secured the necessary approvals from the board – to enhance our Egyptian footprint and further expand our snacking division.”

In the first half (H1) of 2022, the ADX-listed firm posted a 74% YoY hike in net profit attributable to the equityholders to AED 118.10 million, compared to AED 67.92 million.

Last September, the company’s shareholders greenlighted cash dividends worth AED 65.31 million for H1-22.