MUSCAT: Asyad Group is progressing steadily towards its strategic goals by enhancing the commercial, financial, and operational performance of all its assets, which amounted to RO 1.600 billion in 2023, while bolstering the Sultanate of Oman’s position as a vital global logistics centre.
The annual report issued by Asyad Group revealed that during 2023, the group achieved net profits amounting to RO 64.000 million, a growth rate of 43 per cent compared to 2022, when profits amounted to RO 45.000 million.
The report indicated that the group’s revenues grew by 5 per cent in 2023 to reach RO 465.000 million. This confirms the continuous growth path pursued by Asyad, with the compound annual growth rate of revenues reaching 21 per cent, while the compound annual growth rate of profits has reached 73 per cent since the group's establishment.
Asyad has maintained its distinguished record in the field of occupational safety, with the group’s Omanisation rate reaching 85 per cent, providing about 400 job opportunities in 2023, and adding 84 Omani sailors to its naval fleet.
The report highlighted that Asyad Dry Dock achieved a 4 per cent growth in its business volume compared to 2022, by implementing 230 projects and providing services to commercial clients from more than 40 countries around the world.
The group has activated freight forwarder services, resulting in the implementation of over 2,000 shipments in its first year of operation from various land, sea, and air ports. Warehousing activities increased by 32 per cent, and warehouse capacity by 16 per cent in 2023.
In 2023, the group also launched partial shipping solutions, linking the Indian markets with the local Omani market through the integration of its assets, aiming to enhance commercial movement and empower local companies and small and medium enterprises.
Oman Post and Asyad Express expanded their network to include 6 new countries, bringing their services to a total of 12 countries. The volume of operations grew by 81 per cent compared to 2022, and 9 international companies have transferred their regional distribution operations to the Sultanate of Oman.
In the small and medium ports sector, which includes Al Suwaiq Port, Khazaen Land Port, Sultan Qaboos Port, Asyad Terminal in Duqm, Duqm Marsa Port, and Asyad Container Terminal, the volume of cargo handled increased by 4 per cent compared to 2022. Additionally, it received 134 cruise ships carrying more than 432,000 passengers. — ONA
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