8.9% Increase in 2024 Revenues
Ghitha Holding PJSC recorded total revenues of AED 4.97 billion in 2024.
Marking an 8.9% increase compared to 2023.
This growth was driven by business expansion and strategic acquisitions.
The group’s gross profit surged by 25.8% year-on-year to reach AED 977.7 million.
With its gross profit margin rising by 2.6 percentage points to 19.7% during the 2024 fiscal year.
The increase in gross profit is attributed to enhanced cost efficiency, strategic acquisitions, and synergies from business integration, which strengthened the cost structure throughout 2024.
Commitment
Ghitha Holding’s balance sheet remained strong and stable.
With total assets increasing by 32.0% to AED 9.3 billion during the fiscal year.
CEO Filal Ameen emphasized that the company will continue to leverage technology and artificial intelligence to streamline operations, enhance decision-making, and identify new opportunities for value creation.
He also highlighted Ghitha Holding’s commitment to boosting efficiency across its subsidiaries.
Ensuring greater resilience and strength in response to rapidly evolving market conditions.
About Ghitha Holding PJSC
Ghitha Holding PJSC is a prominent trading and distribution company based in the UAE.
It operates as a retail subsidiary under IHC Abu Dhabi.
The company specializes in both food and non-food products.
Offering services such as importing, trading, repackaging and wrapping, storage.
The UAE Ministry of Defense announced, the launch of the first French “Rafale” aircraft within the first batch, which is considered among the most advanced in the world, in a qualitative step to enhance the capabilities of the armed forces. pic.twitter.com/9pbjoDFi35
— UAE Voice (@uae_voiceeng) January 31, 2025
As well as the distribution of various items, including:
Dry canned goods, chilled and frozen foods, processed and fresh food products, household items, stationery, disposables, cosmetics, and chemicals.
Ghitha manages a diverse portfolio, including consumer goods, catering, industrial manufacturing, contracting, and facility management services.
Geographically, its sales are concentrated in the UAE, with a growing presence in international markets.
Its leadership team includes CEO Askar Ali and CFO Shaji Philip.
And it is publicly listed on the Abu Dhabi Securities Exchange under the ticker symbol “GHITHA.”
