Invictus Investment expands into new markets and introduces new product lines
Date
11/4/2024 8:26:33 AM
(MENAFN- Tales & Heads) Invictus Investment Company Plc (ADX: INVICTUS), a leading agro-food enterprise in the Middle East and Africa, today announced its expansion into four new markets across three regions in the year to date, as well as the introduction of two new products to its portfolio. The new markets are Burkina Faso, Jordan, the Netherlands and Senegal. With these additions, Invictus Investment now has a presence in 54 countries worldwide. The Company has also added sunflower and rapeseed meal to its offerings, broadening its portfolio to more than 30 products and categories.
The expansion is in line with Invictus Investment’s long-term strategy to grow its geographic footprint, diversify its product range and strengthen its position as a leading agro-food commodities trader. The Company also recorded its first sale to Brazil, a significant milestone as Brazil and Argentina have long been key sourcing regions for Invictus Investment’s exports. In addition, freight services have been extended to include Spain and Tunisia, strengthening the Company’s logistical capabilities in these key markets.
Commenting on the announcement, Amir Daoud Abdellatif, CEO of Invictus Investment, said: “Our expansion into these four strategic new markets represents an important step forward in our growth strategy as we continue to scale our business and enhance our ability to serve customers worldwide. The moves into Burkina Faso, Jordan and Senegal bolster our already strong presence across Africa and the Middle East, while establishing operations in the Netherlands broadens our reach in the European market. Our first sale to Brazil is meanwhile a key milestone in our expansion into South American export and import trade, where we see opportunities to further grow our presence in this major agro-food market.
“The introduction of sunflower and rapeseed meal to our product mix is part of our ongoing diversification strategy to offer a wider range of in-demand agricultural and food commodities. We remain focused on expanding into complementary and value-added products categories as we continue our journey to become a fully integrated agro-food enterprise,” Abdellatif added.
In the first half of 2024, Invictus Investment achieved impressive growth with a 35% increase in commodity transaction volumes to 3.36 million metric tonnes, compared to 2.48 million metric tonnes in H1 2023. Revenue for the period was AED 4.26 billion, an increase of 0.55% year-on-year, while net profit reached AED 84.23 million. The company continues to deliver healthy profit margins.
Looking forward, Invictus Investment remains focused on exploring many more strategic investments, including acquisitions and joint ventures, to expand its manufacturing value addition and geographic reach in strategic markets thereby driving sustainable growth to the benefit of all its stakeholders.
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