Agility Reports 12% Q2 Earnings Increase
7th August 2017
Leading global logistics provider Agility has today reported second-quarter earnings of 13.4 fils per share on net profit of KD 16.8 million, an increase of 12.8% and 12.1% respectively over the same period in 2016. Agility EBITDA grew 14% to KD 32.6 million. Revenue increased 10.9% to KD 342.1 million.
First-half earnings of 24.9 fils per share and net profit of KD 31.4 million were up 12.1% and 11.6% respectively from first-half 2016. First-half EBITDA was KD 63.4 million, an increase of 15.6%. Revenue for the first half was KD 662.6 million, an increase of 9.1%. The results are in line with the company’s long-term guidance.
Tarek Sultan, Agility Vice Chairman and CEO, said: “Agility’s Infrastructure group was the primary driver of performance in Q2. Our industrial real estate business and aviation services company delivered particularly strong results. Revenue in our logistics business is growing because air and ocean volumes are increasing and contract logistics revenue is expanding, but rate pressure continues to affect profitability.”
For an exclusive interview with Agility Global Integrated Logistics CEO Essa Al-Saleh, see the September print issue of Logistics Business, which is due to be sent to subscribers early next week.