Supply Chain News / 3PLs & 4PLs

Agility Announces Financial Results

Kuwait-based Agility reports profits in tough economy.

November 27, 2012

In reporting third-quarter 2012 earnings, global logistics provider Agility noted that, excluding one-off items in Q3 2011, EBITDA increased 65 percent compared to the same period last year.

The company reported a net profit of KD 9.75 million (US $34.6 million) compared with the Q3 2011 net profit of KD 8.05 million (US $28.6) in the 2011 third quarter.

“The third quarter demonstrated that our efforts to transform the company into a more lean and efficient organization are paying off,” said Tarek Sultan, chairman and managing director of Agility. “Even during these tough economic times, we managed to grow revenue and net profit. The company will continue to stay focused and disciplined in order to complete the transformation that we will leverage for future growth.”

Revenue in Agility’s core commercial logistics business, Global Integrated Logistics (GIL), increased by 4 percent in Q3 2012 relative to the same quarter last year.

“Our industry is inextricably linked to world trade flows, therefore the global economy remains the key driver behind GIL’s performance,” Sultan said. “The continuing Eurozone crisis and slow recovery in the Americas, as well as a relative slowdown in China, impacts our business. That said, we continue to make strong gains in emerging markets more generally, and are seeing continued progress with our efforts to contain costs, achieve productivity gains through technological transformation, and realize profitable sales growth.”


 

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