Agility holds its AGM and EGM for 2017

KUWAIT: Agility, a leading global logistics provider, held yesterday its Annual Ordinary and Extraordinary General Assembly Meeting at the Radisson Blu Hotel, with a quorum of 77.7 percent.

The company’s shareholders approved all the items on the agenda, including Agility’s audited financial results, and endorsed the Board of Directors’ recommendation for a cash dividend of 15 percent (15 fils for every share) and a bonus share distribution of 15 percent (15 shares for every 100 shares). These dividends are entitled for the shareholders who will be registered on the company’s shareholders’ record on 14 May 2018. Dividends will be distributed on 20 May 2018.

In 2017, Agility reported a net profit of KD 68.5 million (54.4fils per share), an increase of 16 percent over the same period in 2016. Revenue for the year reached KD 1,407 million and EBITDA was KD 135.2 million.

Tarek Sultan, Agility CEO and Vice Chairman, said, “Agility witnessed another year of healthy growth and continued to plant the seeds for a future of sustainable growth. To reach our target of $800 million EBITDA by 2020, we remain focused on improving GIL’s performance and investing in our Infrastructure companies.” “Agility is accelerating its strategy to transform the business through technology and establish its position as the leading digital player in our industry. The company continues to grow in emerging markets logistics parks, fuel logistics, airport services, and commercial real estate development. The core commercial logistics business is also growing its volumes, despite margin pressure in a tight market. Finally, I would like to thank our valued shareholders, customers, employees and partners for their commitment that reflected a strong year,” said Sultan.