Profits rise at Agility

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Agility increased EBITDA by 12.1 per cent to KD26.2 million (£60.1m) in the first quarter, despite a 6.1 per cent fall in revenue to KD298.8m (£686.0m).

CEO Tarek Sultan said: “Our efforts to define a clearer strategy and improve execution are paying off in stronger customer relationships, an expanding emerging market footprint, a sharper focus, and a more disciplined management approach.”

First quarter revenue for Agility Global Integrated Logistics (GIL) stood at KD 225.8 million (£518.4m). Net revenue improved by 0.6 per cent with margins expanding from 23.5 per cent in Q1 2015 to 26.0 per cent in Q1 2016.

“There were two major drivers for net revenue improvement in GIL this quarter. First, continued growth in contract logistics. Agility has a strong contract logistics footprint in the Middle East, Asia Pacific that is serving growing consumer demand in these markets. Second, improved yields in the freight forwarding business,” Sultan said.

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