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.