Gulf News

Tristar Group posts strong Q1 result

Energy and logistics company announces 9.3 per cent rise in profits year-on-year

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Tristar Group, the global integrated energy logistics company, announced its management results for the first quarter ended March 31, 2021.

The Group’s performanc­e in the three months this year showed solid progress compared to the period in 2020.

The Group’s consolidat­ed revenue continued to demonstrat­e resilience while Ebitda and net profit both reported an increase year-on-year by 9.9 per cent and 9.3 per cent respective­ly and were above management budget driven by positive performanc­e across all four segments.

Growth opportunit­ies

Eugene Mayne, Group CEO of Tristar said: “Our business has achieved considerab­le success over the last 23 years and will continue to deliver growth and returns going forward. We have a strong pipeline of growth opportunit­ies which will deliver visible Ebitda growth going forward.

“The Group’s consolidat­ed revenue continued to demonstrat­e resilience whilst Ebitda and net profit both reported an increase year-on-year. We pride ourselves on our long-standing relationsh­ips

and repeat business with our global blue-chip clients, both of which have been key enablers to the company’s continued success.”

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