UAE's Agthia looking at acquisitions in bid to hit 2020 revenue target, CEO says | ZAWYA MENA Edition:
Abu Dhabi-based food group Agthia is studying potential acquisition targets in order to help it meet a target set by its chairman of reaching $1 billion in revenue by the end of 2020, its CEO has said.
The target, which was reiterated in the company’s 2017 annual report by chairman Dhafer Ayed Al Ahbabi, is some way off being met as things stand, with revenue for the first nine months of 2018 declining by 5.2 percent to almost 1.49 billion dirhams ($405.7 million).
“Definitely, I think to hit that particular milestone in the year 2020, it might slip a little bit based on the current economic situation,” Tariq Al Wahedi told Zawya in an interview at the company’s headquarters in Abu Dhabi last month. “It also depends on how soon we can find our M&A targets as well – whether we find the right targets.”
No comments:
Post a Comment