Ghitha Holding posts 7% revenue growth in Q1 2025
28 Apr 2025 00:14
ABU DHABI (ALETIHAD)Ghitha Holding, a diversified conglomerate operating across agriculture, food production, and distribution sectors, reported a strong start to 2025 with a 7.2% year-on-year (YoY) increase in revenue for the first quarter, reaching Dh1.35 billion.The Group's gross profit rose by 27.1% YoY to Dh307.9 million, while operating profit grew by 6.4% to Dh76.8 million, driven by cost efficiencies and an improved product mix. The performance reflects successful organic growth initiatives, operational momentum, and contributions from recent acquisitions.Commenting on the results, Falal Ameen, CEO of Ghitha Holding, said:'Our first quarter results reflect Ghitha's disciplined execution and strong foundations. The contribution of recent acquisitions to this quarter's performance marks a tangible milestone in our acquisition strategy, and we're excited about the future potential of our latest deal with Al Jazira Poultry Farm. Ghitha will continue to explore further opportunities aligned with its strategic vision, with active pipelines across the food segment.'In March 2025, Al Ain Farms, a subsidiary of Ghitha Holding, signed a Share Purchase Agreement (SPA) to acquire Al Jazira Poultry Farm, a leading UAE-based poultry producer. This acquisition strengthens Ghitha's position in the protein vertical and follows the successful acquisition of Arabian Farms last year.Looking ahead, Ghitha plans to enhance its operations through technology implementation and digital innovation, aiming to elevate decision-making, streamline processes, and boost competitiveness across its value chain. Mergers and acquisitions (M&A) will remain a core pillar of its strategy, with a focus on operational integration, efficiencies, and maximising value creation.
Ghitha Holding operates as a subsidiary of International Holding Company and manages a wide-ranging portfolio of subsidiaries and associates, including Al Ain Farms, Marmum Dairy Farm, Arabian Farms, Apex Investment, Al Ajban Poultry, and NRTC Group, among others, engaged across dairy, poultry, fish, agriculture, food commodities, and trading sectors.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
an hour ago
- The National
Money & Me: ‘Seeing our business break even has been a milestone'
Sisters Chandini and Chanchal Guria came together to work on their passion for health and bootstrapped their business, Ekaya Wellness Studio, in Dubai last year. The yoga and Pilates instructors previously had separate careers, with Chandini, 34, employed as a journalist, while Chanchal, 30, was working in property management. The Indian siblings arrived in the UAE from Hong Kong in 1998, after their father moved to the country for work. Chanchal completed her bachelor's degree in finance accounting and management at the University of Nottingham, in the UK. Chandini went to the London College of Fashion, where she obtained her bachelor's degree in fashion design and development. But writing was her passion, so she joined Dubai Week as a journalist and also worked with insydo Dubai. After spending five to six years in the industry, she felt burnt out and decided to become an entrepreneur. The sisters started selling yoga mats and launched Meow Yoga, an e-commerce brand, as a side business. They currently live with their parents and brother in The Meadows, Dubai. Did wealth feature in your childhood? What did you learn from it? Chanchal: Wealth was a bit up and down. The reason we shifted from Hong Kong to Dubai was because my dad went out of business there, and he got a job here. Dubai wasn't so expensive back then, so we were on a saving curve. From a young age, our mother would tell us not to buy stuff – that put it in our heads that money is quite important and we're short on it. During the global financial crisis, our money was stuck in property. We saw some bad times. We had to move out of our house into a small apartment. And then, we rebounded. It taught us to know our limits, save when possible, but also enjoy it when you have the money. Don't spend on things you don't need. But there's nothing wrong indulging yourself once in a while. Chandini: Although we went through ups and downs, our father always tried to make sure all our needs were met, and it taught me the importance of hard work and a support system. What did your first job pay? Chandini: As a junior writer with Dubai Week, I earned Dh6,000 ($1,633) a month in 2015. Chanchal: In 2016, I interviewed with Nakheel and was hired as a property management co-ordinator on a starting salary of Dh9,500, and I worked there for nearly five years. Any early financial jolts? Chandini: When I quit my job, I didn't realise that living on your own savings and starting a business is expensive, so I ran out of money really quickly. How do you grow your wealth? Chandini: I'm still at a point where I need to save money before I focus on growing my wealth. My future plan is long-term investments, such as in properties and companies that I believe in. Chanchal: I don't have a lot of investments either. I have savings accounts. Investing in our wellness business was the first step in growing our wealth. We hope to see our income grow after a year and a half and then open up the next centre. Are you a spender or a saver? Chandini: Even though I'm a spender, I have no regrets because most of the things I pay for are about my well-being, such as massages, workouts and wellness activities. Chanchal: I'm the complete opposite. I love to save money, but I do feel like spending on yourself and for the right thing – it is important to splurge a little sometimes to have a good time. You have to enjoy what you earn. It's OK to go out and have nice dinners once in a while, but not to do it every single day. Have you been wise with money? Chandini: I'm pretty wise with money. It sounds a bit contradictory to my statement that I'm a huge spender, but I do it for the right reasons, and I have no regrets about what I spend on. So even though my savings aren't huge, I think I am wise with money. Chanchal: I like to always keep track of what I'm spending on in an Excel sheet, as I studied accounting and I'm obsessed with numbers. What has been your best investment? Chandini: It's nice having a business where you are supporting staff and the community. But my best investment is my Kindle. I can't even describe how much joy it brings. Chanchal: Definitely, our business Ekaya, considering the time and effort we put into it. It pays back in different ways. And we've already hit break even. Any cherished purchases? Chanchal: I just bought myself a new car, so I'm obsessed with that. It's the Range Rover Velar. Any financial advice for your younger self? Chandini: I grew up as a shy, quiet kid who never really stood up for herself. I would tell my younger self to not be scared to ask for what you deserve, whether it's a raise or a promotion. What luxuries are important to you? Chandini: The most important luxury to me is spending quality time with my family and friends. Chanchal: One of the biggest luxuries is finding time for yourself. I have started to find time to do things that make me happy, such as getting a massage once a week and scheduling time to play badminton. What are your financial goals? Chandini: My goal has always been to become financially independent. I want to be able to support and care for my family alone. Chanchal: My financial goal is to be independent. I would also like to see our business grow as much as possible. In one and a half years, I hope we're able to open a second location. Any key financial milestones?
Arabian Business
2 hours ago
- Arabian Business
Dubai ranked number 1 globally for creative industry FDI
Dubai has once again been named the world's top destination for greenfield foreign direct investment (FDI) in the cultural and creative industries (CCI), securing the No. 1 spot in the Financial Times fDi Markets rankings for 2024. This marks the third consecutive year the emirate has outperformed global cities like London, Singapore, and New York. In 2024, Dubai attracted 971 creative sector projects, an 8 per cent increase from 2023, bringing in AED18.86bn ($5.1bn) in capital, up nearly 60 per cent year-on-year. Dubai foreign investment in creative industries These investments generated 23,517 new jobs, highlighting the city's growing appeal as a creative economy powerhouse. Key sectors driving this growth include: Advertising and PR Film production Gaming Education AI-powered software design According to the Dubai FDI Monitor, greenfield, wholly-owned ventures made up 76.5 per cent of all projects, reflecting strong investor commitment. The United States led with 23.2 per cent of capital inflows, followed by India, the UK, Switzerland, and Saudi Arabia. India stood out in job creation and project volume. Pro-business reforms, like allowing free zone firms to operate onshore and slashing bureaucracy, combined with robust IP laws and cutting-edge infrastructure, continue to make Dubai a magnet for global creatives and investors. As outlined in the 'Creative Dubai' report, the city is emerging as a global hub for design, immersive tech, and AI innovation—cementing its reputation as a leading destination for creative enterprise in 2025 and beyond.
Middle East Eye
3 hours ago
- Middle East Eye
Ex-CIA officer running Gaza aid security advised Boston Consulting Group
Former CIA paramilitary officer Phil Reilly, who heads a private military company that is guarding Israel's newly set up food distribution sites in Gaza, was a senior advisor at the US consultancy that is the latest partner to withdraw from the controversial aid project. The Boston Consulting Group admitted last week that it was involved in developing the Gaza Humanitarian Foundation (GHF), but has since halted its involvement and distanced itself as 110 Palestinians have been killed and 583 wounded trying to access aid during GHF's 10 days of operations, according to government sources. But Reilly's role with BCG, which ended only six months ago, raises questions about whether the consultancy was also involved in developing the security side of the aid operation. Questions about the firm's role come as BCG announced on Thursday that it had fired two partners for 'unauthorised work' in relation to GHF. BCG said the partners 'failed to disclose the full nature of the work during the client acceptance process' and carried out subsequent unauthorised work in violation of company policies and protocols. New MEE newsletter: Jerusalem Dispatch Sign up to get the latest insights and analysis on Israel-Palestine, alongside Turkey Unpacked and other MEE newsletters The firm said the subsequent work had "lacked visible multi-lateral support" and that it has engaged outside counsel to investigate its involvement in the project. 'We deeply regret that in this situation we did not live up to our standards. We are committed to taking all necessary steps to address the issues identified in the ongoing investigation,' the company said. MEE asked BCG on Friday whether the firm was involved in the security operations to support GHF, what role it had played with the foundation and who had asked the firm to get involved initially. BCG directed MEE to its statement from Thursday which did not answer the questions. Consulting on Gaza A 29-year veteran of the CIA, Reilly served as a senior advisor at BCG for eight years starting in January 2017, just as US President Donald Trump's first term started, according to his LinkedIn account. It was early last year, while still holding his advisory role, that Reilly reportedly first began discussing Gaza aid with Israeli civilians in early 2024. Later in 2024, he worked on a study for Orbis, another US consultancy, which reportedly outlined a plan to outsource food aid delivery to private companies and foundations, the NYT reported. Reilly's advisory role with BCG ended in December, a month after Safe Reach Solutions (SRS), the private military company now operating in Gaza, was registered in Wyoming, a known US tax haven. Mercenary firm set to oversee Gaza aid for Israel goes on LinkedIn hiring spree Read More » Public records show that SRS's registered agent, as first reported by All-Source Intelligence, is the Wyoming-based wealth management fund, Two Oceans Trust LLC. But the public records fail to reveal many more details about SRS, including its funders. It was reported this week that McNally Capital, a Chicago-based private equity firm, has an "economic interest" in SRS, although the scale of the interest remains unclear. The lack of clarity about funding is also true of GHF which is registered with scant few other details in Delaware, another notorious US tax haven. SRS is understood to be the main company currently securing the food distribution sites that are part of Israeli and American moves to take control of aid distribution in the enclave, which have been beset by controversy. The UN and international aid agencies have sounded the alarm for weeks over concerns that the plans which have unfolded at pace failed to meet humanitarian principles and would encourage forced displacement of Palestinians. Hours before GHF was to start distributing aid in Gaza late last month, executive director Jake Wood resigned over concerns that it was impossible for the organisation to operate independently or adhere to strict humanitarian principles. Wood was replaced this week by Johnnie Moore, an evangelical leader who has advised Trump on interfaith issues. Moore has denied reports that Palestinians were killed and injured while seeking aid at GHF's sites in Gaza and said he was demanding results "with Silicon Valley precision".
