Omani logistics giant ASYAD Group reports record growth for H1

Omani logistics giant ASYAD Group reports record growth for H1
Published: 20 June 2019 - 9:05 a.m.
By: Logistics Middle East Staff

ASYAD Group has announced record growth for the first half of 2019 at a group-wide employee meeting—branded as Majlis ASYAD—to showcase the Group’s strong performance.

The regular event aims to build alignments and synergy through all the operating companies that are part of the ASYAD Group.

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Outlining key achievements, Abdulrahman Al-Hatmi, Group CEO, commented: “ASYAD has delivered rapid growth in the last 6 months due to sales increases and new revenue streams, resulting in an EBITDA growth of 14% and a forecast of 23% growth overall for 2019. I am pleased to say that 2019 is set to deliver our best Group financial performance to date”.

Additional highlights announced at the Majlis included: the group’s ports are forecast to see a 27% growth in bulk volumes and 14% growth in container volumes in 2019.

FDI investment in the Sohar and Salalah free zones for 2019 has reached USD $500 million this year, already surpassing the total amount invested in 2018.

Oman Drydock Company reached an organisation first, servicing 19 ships in one day, the 52 million sqm Khazaen Economic City has opened for business with its first international tenants.

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Additionally, there have been 95% on-time deliveries from Oman Post and 85% positive customer feedback.

Finally, National Ferries Company (NRC) cost reductions of ½ m OMR annually over the last five years while reaching 81% Omanization across the company.

Looking forward to H2 2019, Al Hatmi told participants, “Our strength as a Group comes from our integration - sharing in each other’s progress to secure ASYAD and the Sultanate’s position as a global logistics leader. The upcoming rollout of our Hub Project, connecting freight from ship to last-mile shipment, is a great example of how we are all working together to add new capabilities across the value chain.”

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