403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Ghitha Holding reports 11% Revenue Growth, totaling AED 3.67 billion for the first nine months of 2024
(MENAFN- Weber Shandwick) Abu Dhabi, UAE - 25 October 2024: Ghitha Holding PJSC (ADX: Ghitha), Abu Dhabi-headquartered conglomerate spanning Dairy, Poultry, Vegetable Oil, Seafood, Agriculture, Retail and Distribution, and a subsidiary of International Holding Company (ADX: IHC), has announced a solid AED 3.67 billion in revenue for the first nine months of 2024, showcasing an impressive 11% year-on-year (YoY) growth.
Gross Profit also increased by AED 188 million, representing 36% growth YoY. This increase was a direct result of the business delivering on its vision as well as its commitment to operational excellence. Throughout the first nine months, Ghitha has focused on several strategic areas, including acquiring key assets, successfully entering new markets, expanding organically, and diversifying its product lines, factors that have shaped its impressive results for this period.
Total assets increased by 33% since December 2023 reaching AED 9.4 billion, further highlighting the Group’s consistent growth as well as its strategic aim of advancing the National Food Security Agenda.
Falal Ameen, Group Chief Executive Officer of Ghitha Holding, said: “The Group has demonstrated strong performance amid a challenging market landscape, successfully navigating supply chain issues and commodity price volatility. These outstanding results will enable the Group to target further growth across key business sectors in the future.”
Looking ahead, the Group remains committed to further enhancing both its financial performance and operational efficiency, aligning with its vision of becoming a leading regional food powerhouse. To achieve this, it will concentrate on enhancing processes, boosting efficiency, and strengthening its ability to respond to changing market conditions. As it progresses towards its goals, the Group remains dedicated to excellence in all areas, ensuring sustainable growth and value creation for stakeholders.
Gross Profit also increased by AED 188 million, representing 36% growth YoY. This increase was a direct result of the business delivering on its vision as well as its commitment to operational excellence. Throughout the first nine months, Ghitha has focused on several strategic areas, including acquiring key assets, successfully entering new markets, expanding organically, and diversifying its product lines, factors that have shaped its impressive results for this period.
Total assets increased by 33% since December 2023 reaching AED 9.4 billion, further highlighting the Group’s consistent growth as well as its strategic aim of advancing the National Food Security Agenda.
Falal Ameen, Group Chief Executive Officer of Ghitha Holding, said: “The Group has demonstrated strong performance amid a challenging market landscape, successfully navigating supply chain issues and commodity price volatility. These outstanding results will enable the Group to target further growth across key business sectors in the future.”
Looking ahead, the Group remains committed to further enhancing both its financial performance and operational efficiency, aligning with its vision of becoming a leading regional food powerhouse. To achieve this, it will concentrate on enhancing processes, boosting efficiency, and strengthening its ability to respond to changing market conditions. As it progresses towards its goals, the Group remains dedicated to excellence in all areas, ensuring sustainable growth and value creation for stakeholders.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment