Invictus Investment Company Plc (ADX: INVICTUS), one of the leading agro-food enterprises in the Middle East and Africa, has published its financial results for the fiscal 2023 half year ended June 30, 2023. The company reported a significant increase in business growth and continued diversification across markets.
The company generated over AED 4.2 billion in revenue, over AED 208 million in gross profits and a net profit of AED 136 million during the first half of 2023. Invictus Investment's African operations generated over AED 2.7 Billion in revenues, followed by Middle Eastern operations AED 1.2 billion and sales to Asia of over AED 264 million.
"We are pleased to report a significant progress in our corporate goals, in the second quarter," said Amir Daowd Abdellatif, CEO. "Despite declining commodity price, we have managed to meet our business development targets by exploring new opportunities including in new products traded and by building market share in various geographies that have all contributed to the overall revenue growth as per our strategic objectives. We remain committed to implementing effective strategies to ensure sustained growth in the future."
As per the results reported, Invictus Investment Company achieved various milestones, including:
With operations in over 70 countries, Invictus has now announced plans to expand into North and East Africa through acquisitions and joint ventures with local entities in countries such as Morocco, Algeria, Kenya, Tanzania, and Mozambique. This expansion aligns with Invictus' strategy to leverage its expertise in agro-food and grain trading while diversifying into logistics and food processing. It remains committed to identifying growth opportunities, enhancing customer relationships, and investing in its teams to ensure sustainable growth and market share within the food processing sector.
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