Agility Reports 17% Q3 Earnings Increase

Agility, a leading global logistics provider, today reported third quarter earnings of 14.2 fils per share on net profit of KD 17.8 million, an increase of 18.1% and 17.4% respectively over the same period in 2016. Agility EBITDA grew 18.3% to KD 34.2 million. Revenue increased 15% to KD 358.5 million. Through the first nine months, earnings were 39.1 fils per share, up 14.2%, and net profit was KD 49.2 million, up 13.7%.

EBITDA for the first nine months was KD 97.6 million, an increase of 16.5%; revenue was KD 1,021.1 million, up 11.1%. The results are in line with the company’s long-term guidance. Tarek Sultan, Agility Vice Chairman and CEO, said: “We remain on track to meet our 2020 EBITDA target of $800 million. Agility’s Infrastructure portfolio of companies continue to drive performance, and we are heavily investing in further growing their footprint in emerging markets across the Middle East, Asia and Africa. ”Agility’s global logistics business has shown double-digit growth in air and ocean tonnage, and contract logistics revenue growth.

“Even so, it’s a tough market because capacity constraints and higher freight forwarding rates continue to affect profitability,” Sultan said. “Looking ahead, we are investing in technology so that we can better serve our customers online, and drive productivity, efficiency, and operational excellence.”

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