Abu Dhabi, UAE – 25 October 2024: Ghitha Holding PJSC (ADX: Ghitha), a leading conglomerate in Dairy, Poultry, Vegetable Oil, Seafood, Agriculture, Retail, and Distribution, and a subsidiary of International Holding Company (ADX: IHC), reported an impressive revenue of AED 3.67 billion for the first nine months of 2024, marking a 11% year-on-year growth.
The company’s Gross Profit surged to AED 188 million, reflecting a 36% increase from the previous year. This growth was driven by the company’s strategic initiatives, including asset acquisitions, market expansion, organic growth, and product line diversification, which contributed significantly to its robust financial performance during the period.
Total assets reached AED 9.4 billion, a 33% increase since December 2023, underlining Ghitha Holding’s commitment to advancing the UAE’s National Food Security Agenda and its consistent growth trajectory.
Falal Ameen, Group CEO of Ghitha Holding, stated, “Despite a challenging market landscape, we have demonstrated strong performance by effectively managing supply chain challenges and commodity price fluctuations. Our exceptional results position us for continued growth across our key business sectors in the future.”
Looking forward, Ghitha Holding remains focused on enhancing its financial performance and operational efficiency, aligning with its vision of becoming a regional leader in the food industry. The Group will continue optimizing processes, boosting efficiency, and strengthening its responsiveness to market changes, ensuring sustainable growth and value for its stakeholders.
