Weak Maritime, Logistics Operations Sees AGL Income Dip 260%
TLDR
- Africa Global Logistics Côte d’Ivoire (SDSC) reports 1% revenue decline in H1 2024, reaching CFA 42.65 billion.
- Operating income dives 260% to a loss of CFA 1.29 billion due to weaker maritime and logistics operations.
- Net profit shows a 37% increase to CFA 18.6 billion, supported by a 47% rise in dividend income.
Africa Global Logistics Côte d’Ivoire (SDSC) posted a 1% decline in revenue for H1 2024, totaling CFA 42.65 billion. Operating income plunged 260% to a loss of CFA 1.29 billion. Net profit, however, rose by 37% to CFA 18.6 billion, supported by a 47% increase in dividend income.
The dip in operating income was attributed to weaker maritime and logistics operations, including intramural handling, export/import transit, and air freight. Improved performance in logistics base management and value-added warehousing partially offset these declines.
AGL maintained stability in overall revenue and leveraged dividend growth to sustain profitability. The company’s leadership emphasized ongoing efforts to mitigate operational challenges in key segments.
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Key Takeaways
AGL’s H1 2024 results highlight resilience despite declines in core operational segments. The strategic focus on dividends and value-added logistics underscores the importance of diversification. While maritime and logistics pressures remain a concern, strong net income growth reflects effective financial management. Future performance will hinge on addressing underperforming segments while capitalizing on growth areas.
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