(MENAFN) Agthia Group, one of the UAE's biggest food and beverage companies, announced it has registered an increase in its profit by 26 percent to reach USD41.1 million during the January-September period of this year, while net sales increased by 9 percent to USD326.62 million, Arabian Business reported.
The group said that the increase in net profit is attributed to higher sales, improved margins and a resilient performance of both its Consumer and Agri Business divisions.
During the first nine months of the year, the Agri Business division, which manufactures and distributes Grand Mills flour and Agrivita animal feed products, recorded net sales of USD212.92 million, registering an increase by 9 percent compared to the same period in 2013, while net profit for Agri Business increased by 19 percent and reached USD42.48 million.
Meanwhile, the Consumer Business division, which produces and distributes products including Al Ain Mineral Water, Yoplait fresh dairy products and Capri-Sun juices, registered an increase in its net sales by 10 percent, reaching USD212.92 million, while its net profit increased by 10 percent to USD10.88 million.
"We have seen a strong performance of the group in this quarter and the business is well positioned to sustain strong performance in quarters to come, both through organic growth and by seizing opportunities that arise in the UAE and in other markets," Chairman of Agthia Group said.
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