Agthia Group PJSC holds AGM, approves financial results and interim dividend payment, and appoints new board members. Agthia Group PJSC held its annual general meeting (AGM) in Abu Dhabi, attended by shareholders both in-person and virtually. During the meeting, shareholders approved the financial results for the year ending December 31, 2022, and an interim cash dividend payment of 8.25 fils per share for the six-month period ending December 31, 2022, totaling AED 65.3M, which represents 8.25% of the company’s share capital.
The board also recommended increasing the board’s size, bringing the total number of members from seven to nine. The shareholders re-elected five board members, including Khalifa Sultan Al Suwaidi, Salmeen Obaid Alameri, Gil Adotevi, Khamis Mohamed Buharoon Al Shamsi, and Sharmila Murat, and appointed Svet Varadzhakov, Caitlin Nguyen, Mariam Al Remeithi, and Maurizio Patarnello as new members.
Khalifa Sultan Al Suwaidi commented, “On behalf of the entire board, I would like to express my gratitude to all our shareholders for their unwavering support and confidence in our leadership. In accordance with the UAE Government’s initiatives to increase the representation of women on the boards of local entities across the public and private sectors, I am pleased to welcome our new board members and am confident that through our collective efforts, we will build upon our past successes to reach even greater heights in future.”
Alan Smith, Group Chief Executive Officer, commented, “On behalf of everyone at Agthia, I would like to extend a warm welcome to our returning and new board members. Our industry is constantly evolving, and as such, it is crucial that our leadership is forward-thinking, diverse, innovative, and strategic. I am delighted to see that a third of our board is now represented by accomplished female leaders, and I am confident that their breadth of experience and fresh perspectives will prove invaluable to our team as we navigate the ever-changing business environment. Agthia’s results over the past year are testament to the disciplined and methodical execution of our long-term strategy and transformative journey to becoming a leading food and beverage company in the MENAP region and beyond, and together, we will strive to deliver further value for all our shareholders and stakeholders alike.”
Agthia Group has released its financial results for the fiscal year that ended on December 31st, 2022. The Group’s net revenue has increased by 33 percent compared to the previous year, reaching AED 4.07B, with positive revenue growth across all business sectors, according to WAM.
The net operating income has also grown by 36 percent year-on-year, indicating that the Group has maintained its profitability core while benefiting from synergies and efficiencies across the organization. Additionally, the Group’s net profit attributable to shareholders has increased by 14 percent year-on-year, amounting to AED 247M.
