Agthia Eyeing Export Growth On The Back Of Strong H1 Showing

Fresh from reporting strong H109 results, leading UAE-based parastatal food and drink company Emirates Foodstuff and Mineral Water Company (Agthia) has announced plans to increase capacity as it bids to ramp up exports to the wider Gulf region and the highly promising Egyptian market. Agthia booked a net profit of AED75.9mn (US$20.7mn) in H1 from an almost 18% year-on-year increase in turnover, which reached AED456mn. BMI agrees with the company's decision to scale up its productive capacity and its ongoing diversification strategy. Although we see the high-income Gulf market remaining the core focus, the importance of the rapidly emerging Egyptian

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