Dubai logistics firm Tristar Group reports revenue jump of 78.3% to $554 million H1-2023

Dubai logistics firm Tristar Group reports revenue jump of 78.3% to $554 million H1-2023

The company achieved double-digit growth across all business verticals.

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Dubai: The Dubai-based logistics company Tristar Group recorded a consolidated revenue increase of 78.3 per cent to $554 million as of June 2023. The company’s EBITDA was up 33.1 per cent to $101 million in its H1 2023 results.



The company reported double-digit growth across all business segments, especially fuel farm. The rise in revenues is attributed to the contribution from the recently acquired HG Storage International in partnership with Glencore.









“The acquisition of 51 per cent ownership stake in HG Storage International, finalized in August 2022, the strong Maritime market, and the good performance of the Road Transport Segment (+23 per cent Year on Year) are the main reasons for the strong performance recorded in the first six months of this year,” said Eugene Mayne, Group CEO of Tristar.



“We are confident that the second half of 2023 will not only confirm the record growth of our Group, but I do believe that thanks to the numerous initiatives put in place during 2022, will fuel additional growth for the Group in the coming years,”