The UAE-based Invictus Investment Company, a leading agro-food enterprise in the Middle East and Africa, on Monday announced its expansion into four new markets across three regions – Middle East, Africa and Europe (MEAE) – this year, as well as the introduction of two new products to its portfolio.
The company entered into Burkina Faso and Senegal (both in Africa), Jordan (Middle East), and the Netherlands (Europe). With these additions, Invictus Investment now has a presence in 54 countries worldwide.
Invictus has added sunflower and rapeseed meal to its offerings, broadening its portfolio to more than 30 products and categories, it said in a regulatory filing with Abu Dhabi Securities Exchange this morning.
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.
It has also recorded its first sale to Brazil, a significant milestone as Brazil and Argentina have long been a 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.
Invictus Investment CEO Amir Daoud Abdellatif said that the expansion into four strategic new markets represents an important step forward in the company’s growth strategy as they continue to scale their business and enhance ability to serve customers worldwide.
The moves into Burkina Faso, Jordan and Senegal bolstered the company’s already strong presence across Africa and the Middle East, while establishing operations in the Netherlands broadens its reach in the European market, he said.
Entering Brazil Is Key Milestone
The company’s entry into Brazilian market is a key milestone in its expansion into South American export and import trade, where it sees 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 iversification 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 $1.16 billion, an increase of 0.55% y-o-y, while net profit reached $22.93 million and 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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