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Agthia Group has approved dividends totaling AED130.6 million (US$35.6 million) for 2022, with the company’s Annual General Meeting (AGM) approving a second-half payout of AED65.3 million, equivalent to 8.25 percent of its share capital.
The AGM also approved the board’s proposal to increase the size of the board, bringing the total number of board members from seven to nine, a WAM report said.
Following the nomination and voting process, shareholders re-elected Khalifa Sultan Al Suwaidi, Salmeen Obaid Alameri, Gil Adotevi, Khamis Mohamed Buharoon Al Shamsi and Sharmila Murat as members of the Board, while Gianluca Fabbri and Khalaf Al Hamadi resigned from the Board. In addition, shareholders also appointed Svet Varadzhakov, Caitlin Nguyen, Mariam Al Remeithi and Maurizio Patarnello are members of the Board of Directors.
More women on boards
Al Suwaidi commented: “In line with the UAE Government’s initiative to increase the representation of women on the boards of local entities in the public and private sectors, I am delighted to welcome our new board members and believe that through our collective efforts we will build on our past successes Let’s continue to build on the foundation and reach even higher heights in the future.”
Group Chief Executive Alan Smith commented: “Our industry is constantly evolving, so it is vital that our leadership is forward-looking, diverse, innovative and strategic. I am delighted to see a third of our board One is now filled by accomplished female leaders, and I am confident that their extensive experience and fresh perspective will be invaluable to our team as we navigate the changing business environment.
“Agthia’s performance over the past year is a testament to our disciplined and methodical execution in our long-term strategy and transformation journey to become the leading food and beverage company in the MENAP region and beyond, and we will work together to serve all our shareholders and stakeholders all the same.”
Net profit rises
Agthia Group recently announced its financial results for the financial year ending December 31, 2022. The group’s net revenue increased by 33% year-on-year to AED4.07 billion, and all vertical industries showed positive year-on-year revenue growth. Net operating income rose 36% year-on-year, maintaining a profitable core while leveraging synergies and efficiencies across the group, while group net profit attributable to shareholders rose 14% year-on-year to AED 247 million. — trade arab news agency
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