(MENAFN- Emirates News Agency (WAM))
ABU DHABI, 15th September, 2022 (WAM) -- Agthia Group PJSC, one of the region's leading food and beverage companies, today held its General Assembly Meeting virtually.
During the meeting, the shareholders approved the Board's proposal for an interim cash dividend payment at a value of 8.25 fils per share, with a total value of AED 65.31 million for the 6 months period ending on 30th June 2022.
Agthia recently posted strong H1 results with revenues reaching AED 2 billion – up 51 percent year-on-year. Group Net Profit attributable to shareholders grew to AED 118 million for the period, a 74 percent increase relative as compared to H1 202, reflecting the impact of the Group's recent acquisitions as well as its cost optimisation efforts as part of its five-year growth strategy.
In April 2021, as part of the launch of its 2025 Strategy to become an F&B leader in the MENAP region and beyond, the Group adopted a semi-annual dividend policy, which aligns with its commitment to maximising shareholders' returns. The semi-annual dividend policy recognises the Group's growing scale and enhanced financial profile while maintaining the capacity to deploy capital through a disciplined M&A strategy.
Agthia recently announced an AED 90 million investment in a manufacturing facility in Saudi Arabia to drive growth for its protein vertical and in response to strong demand from local customers. Also, in July 2022, the Board approved the acquisition of a strategic 60 percent stake in Auf Group, a specialised healthy snacks and coffee manufacturer and retailer in Egypt.
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