Monday 26th Sep 2016 - Logistics Manager

Profits rise at Agility

Agility increased its net profit by five per cent in the second quarter to KD 13.5 million (£44.7m). EBITDA was up one per cent to KD 25.5m (£54.1m).

“The global logistics market is a mixed bag in terms of growth, with continued sluggishness in China and Europe; and ongoing pressure on rates. In this environment, we are pleased to report that Agility continues to post steady growth in profitability. Agility’s Global Integrated Logistics business continues to drive margin expansion through commercial transformation, financial discipline, and productivity improvements powered by technology,” said CEO Tarek Sultan.

Revenue for Agility Global Integrated Logistics fell four per cent in the second quarter to KD 259m (£549m) from a year ago. It said the decline was a result of the general logistics market performance and also the planned end of some large contracts.

Growth in contract logistics demand, coupled with improved yields in Agility’s air freight business, and better commercial disciplines, has resulted in margin expansion within GIL. Net revenue increased by 1 per cent, with margins expanding from 24 per cent in Q2 2014 to 25 per cent in Q2 2015.