UAE food giant Agthia Group posted a 32% jump in net profit for Q1 2024 on the back of strong growth across all business segments.

During the three-month ending March 31, 2024, the food and beverage firm recorded a total net profit of AED 127.6 million ($34.7 million).

Group net revenue increased 22.6% year-on-year (YoY) to AED 1.45 billion despite challenging global macroeconomic conditions, the company said on Wednesday.

Revenue from the snacking business rose by 17.7% YoY, driven by robust growth across the company’s snacking portfolio.

Revenue from the water and food business increased by 3.5%, while the protein and frozen division saw a 15.9% rise in revenue.

(Writing by Cleofe Maceda; editing by Brinda Darasha)