We have delivered strong results in the third quarter as well as the first nine months of 2019 and have demonstrated our ability to realize profitable growth, supported by an increase in fuel volumes sold, an enhanced convenience store experience and improved quality of service. Looking ahead, we are focused on the acceleration of our domestic network expansion, particularly in the Dubai market, and the growth of our non-fuel business.
Our recent marketing campaign offering free assisted fueling has proven to be a success both in terms of generating an increase in retail fuel volumes in the third quarter of 2019 for the first time since our IPO and better understanding our customers’ requirements. This, in conjunction with feedback from extensive customer engagement, has resulted in the decision of the Board of Directors to approve offering free assisted fueling to all our customers, which we will implement beginning this Sunday, 3rd November. We trust this will be very well received by our customers as well as our investors as this will facilitate and strengthen our ambitious network expansion and volume growth targets. As a result of cost reductions and other initiatives, we do not expect this to have an impact on our profitability or dividend policy.
We remain dedicated to fulfilling the promises we have made to our shareholders and the local communities we proudly serve every day. The company has engaged with nearly 14,000 customers through focus groups and surveys. As part of the evolution of ADNOC Distribution’s offering, our company will launch a new loyalty program, ADNOC Rewards, later before the end of the year, further enhancing our customer experience. We are well on our way to making ADNOC Distribution a world-class fuel and convenience retailer and look forward to continuing our journey in the UAE and beyond.
Saeed Mubarak Al Rashdi
Acting Chief Executive Officer
31 October 2019