Ghitha Holding revenue reaches $1.35bln in 2024
ABU DHABI - Ghitha Holding has announced its consolidated financial results for the fiscal year ended 31st December 2024, reporting a total revenue of AED4.97 billion, reflecting an increase of 8.9 percent compared to FY2023.
The Group's top-line performance was driven by organic expansion, strategic acquisitions, and the Group's continued commitment to operational excellence.
Ghitha's gross profit grew 25.8 percent YoY to AED977.7 million and booked a margin increase of 2.6 percentage points YoY to 19.7 percent in FY-2024. The improvement in gross profitability was driven by a combination of cost efficiencies, strategic acquisitions, and synergies, contributing to a more optimised cost structure in FY-2024.
Ghitha's balance sheet remained strong and recorded an increase in total assets of 32.0 percent to AED9.3 billion in FY-2024.
Commenting on the results, Falal Ameen, Ghitha Holding's CEO, said, "2024 was a pivotal year for Ghitha Holding as we further strengthened our position as a key player in the region's packaged food and agriculture sector.
"Our achievements were driven by a deliberate focus to scale our operations, optimise efficiencies, and pursue strategic investments that align with our long-term vision. From expanding into new markets to enhancing the performance of our diverse portfolio, we continued to strengthen the Group's foundations for sustained growth."
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