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UAE’s AD Ports Group, whose third-quarter 2022 net profit soared 77% year-on-year, said it expects strong revenue and profit growth over the next five years as it accelerates regional expansion along key trade routes.
The ADX-listed company said in a note on Tuesday.
Capital expenditure in the third quarter was AED 1.6 billion as logistics companies advanced revenue-generating investments.
Ross Thompson, Group Chief Strategy and Growth Officer, AD Ports Group, said: “Globally, we can see signs of a recession and a slowdown in international trade, but our business is thriving in markets and routes that still show significant capacity for growth development, especially in the MENA region, the Red Sea coast and the Indian subcontinent.”
The company is planning regional expansion along key trade routes as well as major global ocean and inland supply chains. “We can provide confident medium-term visibility of strong revenue, EBITDA and profit growth over the next five years.”
(Writing by Brinda Darasha; Editing by Seban Scaria)
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