• Revenue remains stable at AED 4.26 billion – an increase of 0.55% on the results of the previous year
  • Net profit reported at AED 84.23 million in H1 2024
  • Total equity rises to AED 1.11 billion in H1 2024, from AED 990.1 million in H1 2023

Dubai, United Arab Emirates: Invictus Investment Company Plc (ADX: INVICTUS), a leading agro-food enterprise in the Middle East and Africa, today announced its financial results for the six month period ended 30 June 2024. The Company demonstrated a resilient performance, with reported revenues of AED 4.26 billion, an increase of 0.55% on the AED 4.24 billion in the same period last year.

Invictus Investment maintained strong profit margins and achieved impressive growth in its commodity transaction volumes, which increased to 3.36 million metric tonnes during H1 2024 – a rise of more than 35% on the 2.48 million metric tonnes reported in H1 2023. Net profit for the first half reached AED 84.23 million, while total equity grew to AED 1.11 billion, up from AED 990.1 million in the same period last year.

Commenting on the results, Amir Daoud Abdellatif, CEO of Invictus Investment, said: “In challenging market conditions, both economically and geopolitically, we have delivered a resilient performance in the first half of 2024, achieving healthy sales volume growth and further cementing our position as a leading player in our focus markets. As we move forward, our strategy will focus on investments in our value chains, particularly downstream acquisitions that enhance our operational capabilities and position us to better serve the evolving needs of our global customer base. We continue to advance towards our goal of transforming Invictus Investment into a fully integrated agro-food enterprise that creates value for all stakeholders and drives positive change in the communities we serve.”

Invictus Investment has also made significant progress on its sustainability journey in the first half of 2024 with the publication of its inaugural Environmental, Social and Governance (ESG) report for 2023. The report serves as a foundation for Invictus Investment’s future sustainability efforts, and outlines the Company’s ESG framework, performance and initiatives across three core pillars: Environmental Stewardship, Social Empowerment, and Ethical Governance and Partnerships.

Looking forward, Invictus Investment remains focused on exploring potential acquisitions, developing new joint ventures in strategic markets, and continuing its expansion across key African markets. The Company is committed to sustaining its growth trajectory, exploring new investment opportunities, and enhancing its contributions to the global food supply chain to benefit all of its stakeholders.

*Please refer to https://invictusinvestment.ae/investor-relations/ for more information.

About Invictus Investment

Invictus Investment Company PLC, established in March 2022 and headquartered in Dubai, is a leading holding entity with a primary focus on agro-food commodities through its main subsidiary, Invictus Trading FZE, founded in February 2014. Initially offering procurement services that supplied raw materials and finished goods such as yeast and milk powder in the MENA region, the Company has since expanded its commodity portfolio to include a diverse range of products such as barley, corn, cotton, Distiller’s Dried Grains with Solubles (DDGS), fertilisers, groundnuts, meat, sesame, soya bean, soya bean hulls, soya bean meal, sugar, vegetable oil, wheat and wheat flour. Today, Invictus Investment operates across 50 countries with a broad sourcing network and a focus on downstream acquisitions in the value chain, with the aim of becoming a fully integrated agro-food enterprise in the commodity trading sector across the Middle East and Africa.

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Raneem Abudaqqa
Senior Consultant | Tales & Heads
E: Raneem.Abudaqqa@talesandheads.com    
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