Logistics firm Agility posts 12 percent jump in third quarter net profit
Agility, a Kuwait-based global logistics provider, has reported third-quarter net profit of KD 20m ($65.7m) , an increase of 12.3 percent over the same period in 2017.
Revenue increased 10 percent to KD394.4m, the company said in a statement, and added that for the first nine months of the year, net profit increased 19.7 percent to KD58.9m. Revenue for this period was KD1.15bn, an increase of 12.7 percent.
“Our third quarter results build on the momentum Agility has achieved throughout 2018,” said Tarek Sultan, Agility vice chairman and CEO.
“The company’s investments in technology and emerging markets infrastructure are paying off with better productivity, a growing customer base, and a diversified service and geographical offering,” he added.
Agility Global Integrated Logistics (GIL) reported net revenue growth of 5.1 percent, reaching KD 64.8m, driven mainly by air freight while ocean freight growth was driven by Americas and the Middle East.
Agility continues its big numbers