Agthia is planning to expand into Asian markets as competition in the GCC increases, Tariq Al Wahedi, the company’s CEO, was quoted as saying. The company is also expecting flat profit for 2019, mainly on changes in demographics. Cost-cutting plans were also outlined, with the expectation of reaching AED60mn in savings during 2018, and the company is forecasting similar savings for 2019. Moreover, Agthia is intending to introduce new products, increase market share and expand into new markets through: i) eyeing acquisitions in Saudi Arabia; ii) expanding in Iraq; ii) expanding into North Africa; and iv) entering Asian markets. 
 
Agthia Group (AD): AED3.95 as of 28 Oct. 2018, Rating: Buy, TP: AED5.90/share, MCap: USD646mn, AGTHIA UH/AGTH.AD