Abu Dhabi – Mubasher: Agthia Group seeks to expand its foothold in four Arab markets including the UAE, Egypt, Saudi Arabia, and Kuwait, along with Turkey, the food and beverage firm’s CEO told Zawya.
“In certain categories, we were losing money, but now we’re making money,” Tariq Al Wahedi said.
Al Wahedi noted that both Egypt and Turkey were challenging markets because of the difficult situations earlier, affirming that the company’s projects are now doing much better in the two nations.
He pointed out that the Abu Dhabi-listed company is planning to foray into new markets in Africa as well, starting from Egypt.
“In comparison to other food companies, whether in UAE or Saudi, [Agthia is still] doing much better,” Al Wahedi said.
The CEO said that the firm uses 100% recyclable secondary packaging across all categories of which 99% are biodegradable.
During the first quarter of 2019, Agthia reported a 15.2% year-on-year drop in profits, recording AED 39.9 million.
