UAE's Agthia eyes to accelerate its businesses in Egypt
“Around 28 percent of the growth of Agthia’s group during the third quarter (Q3) of 2022 is coming from the recent acquisitions,” Chief Executive Officer of the group, Alan Smith told Egypt today (ET).
With net revenue of AED 954 million during the Q3, Smith noted that the group's coming strategy focuses on the categories it’s currently operating.
Group EBITDA increased 23 percent year-on-year to AED 128 million and net profit was AED 40.5 million, up 14 percent on the prior year.
Regarding the group business in Egypt, Smith pointed out that they are keen to start building their export portfolio from the Egyptian borders.
“Egypt is an attractive market to Agthia because it's a strong consumer market with a 100 million population, and a growing economy,” he commented.