(MENAFN) Food and beverage company Agthia Group net profit for the first half of 2015 rose 20 percent to USD34 million from the same period last year, driven by higher sales and improved margins.
The Abu Dhabi-based company said net sales for the period grew 11 percent to USD248 million. Chairman said: "Our second quarter performance builds on the strong start we had in the first three months of 2015."
Net profit surged 12 percent to USD34.57 million, driven by an improvement in gross margins for feed resulting from competitive grain sourcing and favorable volume mix, and distribution gains for flour.
The Agri Business, which manufactures and distributes Grand Mills flour and Agrivita animal feed products, saw net sales reach USD152.46 million for the first half of 2015, delivering a 5 percent increase.
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