Abu Dhabi listed food and beverage company Agthia has reported higher sales and profits for the first nine months of the year despite continued losses in its food arm.
Agthia reported a net loss of AED19m (US$5.1m) compared with a loss of AED21.5m for the same period last year.
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The firm said losses continued due to the start up expenses of its frozen baked business.
Sales for the division increased to AED86.5m from AED82m a year earlier. Agthia said sales in dairy increased and the performance of frozen veg and tomato paste "improved".
Agthia's food division falls into its consumer business which also includes water and beverages. The wider business includes an agri business arm.
Overall for the nine month period to the end of September, the business reported an increase in profits to AED179.2m from AED150.8m.
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By GlobalDataOperating profit increased to AED182.2m from AED149.3m.
Sales grew to AED1.4bn from AED1.2bn.
