Ghitha Holding, an Emirati food retailer, announced its consolidated financial results for the financial year ended December 31, 2024, according to which the company’s total revenue reached 4.97 billion dirhams, representing an increase of 8.9% compared to the financial year 2023.
Publish dateSaturday 1 February 2025 - 14:21
According to Amac News: The group’s high performance was attributed to organic expansion, strategic acquisitions and the group’s continued commitment to operational excellence.
Ghitha’s gross profit increased by 25.8% compared to the previous year, reaching 977.7 million dirhams. The profit margin also increased by 2.6 percentage points compared to the previous year, reaching 19.7% in the financial year 2024.
The improvement in gross profitability was attributed to a combination of cost efficiencies, strategic acquisitions and synergies, which contributed to a more optimized cost structure in the financial year 2024.
Ghitha Holdings’ balance sheet remains strong, recording a 32.0% increase in total assets to AED 9.3 billion in fiscal 2024.
“2024 was a critical year for Ghitha Holdings as we strengthened our position as a key player in the region’s packaged food and agribusiness sector,” said Falah Amin, CEO of Ghitha Holdings.
Ghitha’s gross profit increased by 25.8% compared to the previous year, reaching 977.7 million dirhams. The profit margin also increased by 2.6 percentage points compared to the previous year, reaching 19.7% in the financial year 2024.
The improvement in gross profitability was attributed to a combination of cost efficiencies, strategic acquisitions and synergies, which contributed to a more optimized cost structure in the financial year 2024.
Ghitha Holdings’ balance sheet remains strong, recording a 32.0% increase in total assets to AED 9.3 billion in fiscal 2024.
“2024 was a critical year for Ghitha Holdings as we strengthened our position as a key player in the region’s packaged food and agribusiness sector,” said Falah Amin, CEO of Ghitha Holdings.
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Source : news agency wam
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