Thursday 27th Oct 2016 - Logistics Manager

Profits rise at Agility

Agility has reported a 63 per cent rise in EBITDA to KD 20.3m (£45.9m) in the second quarter, while sales were up six per cent to KD348.8m (£788m).

“We started 2012 off on the right track, and our mid-year results show that both our internal transformation and business development efforts are paying off,” said chairman and managing director Tarek Sultan.

Sales at Global Integrated Logistics rose one per cent. The group said GIL continued to be the main driver behind Agility’s overall growth.

“Although we feel the effects of the broader slowdown in the economy, we continue to improve our operational performance during these challenging times. We are making good progress in our efforts to transform our business through technology, improved financial discipline, and focus on under-performing entities. We have also seen strong sales growth in emerging and challenging environments,” said Sultan.

“Although the global economic outlook is likely to continue to be uncertain for the rest of the year, I am confident Agility is moving in the right general direction.”