KUWAIT

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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

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