Ghitha Holding PJSC a diversified conglomerate spanning agriculture, food production, and distribution, has announced its consolidated financial results for the fiscal year ended December 31, 2024.
The Group reported a total revenue of AED 4.97 billion, reflecting an increase of 8.9% 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% YoY to AED 977.7 million and booked a margin increase of 2.6 percentage points YoY to 19.7% in FY-2024. The improvement in gross profitability was driven by a combination of cost efficiencies, strategic acquisitions, and synergies, contributing to a more optimized cost structure in FY-2024. Ghitha’s balance sheet remained strong and recorded an increase in total assets of 32.0% to AED 9.3 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, optimize 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.”
Looking ahead, the Group’s focus will be on harnessing the transformative power of technology and artificial intelligence to streamline processes, improve decision-making, and unlock new opportunities for value creation. Operational consolidation will be a core driver as Ghitha Holding aims to integrate and enhance efficiencies across all businesses, ensuring agility and resilience in an evolving market landscape. With these initiatives, Ghitha is well-positioned to lead the way in driving innovation, supporting national food security objectives, and maximizing the value generated for stakeholders.
