Arab Finance: UAE-based Agthia Group’s exports from Egypt increased by 50% year on year (YoY) in the first half (H1) of 2024, Asharq Business reported, citing the firm’s CEO Alan Smith.

Egypt usually contributes around 15% to 16% to the company’s total revenues, but the firm managed to increase this percentage to 20% despite the volatility of the country’s economic conditions, Smith pointed out.

He added that profits are in a similar position to revenues.

It is worth noting that the company’s net profits amounted to AED 55 million in the second quarter (Q2) of this year, compared to AED 38 million in Q2 2023.

Moreover, revenues went up 5% YoY in Q2 2024 to AED 1.76 billion from AED 1.18 billion.

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