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Indiaexportnews.com

Agility first half profit up 11pc, but revenue off 7pc

  12.08.2014    

Kuwaiti global logistics giant Agility posted an 11 per cent year-on-year first half net profit increase to KWD24.1 million (US$85 million), drawn on revenues of KWD656 million, which declined seven per cent, according to Shipping Gazette.
Second quarter net profit was up 12 per cent to KWD12.9 million, drawn on revenues of KWD341.7 million, down four per cent.
"Agility continues to improve financial performance, increasing profitability by 12 per cent in the second quarter despite ongoing sluggishness in the global economy and in demand for logistics services," said CEO Tarek Sultan.
"Our commercial logistics business, remains focused on the transformation of its operating platform, development of its sales and commercial strategy and increased cost discipline," he said.
"Our infrastructure portfolio of companies continue to be strong contributors, posting healthy growth once again," said Mr Sultan.
Revenue for Agility Global Integrated Logistics (GIL) decreased seven per cent because of the challenging market conditions.
Agility's infrastructure divisions contributed a 23 per cent increase as they have always been strong contributors. "Each company has its own road map to drive growth and expand its customer base," said a company statement.
Agility Real Estate grew 11 per cent as it continues to explore opportunities in emerging markets that need world-class industrial facilities.
Agility is a publicly traded company with more than $4.8 billion in revenue and more than 20,000 employees in over 500 offices across 100 countries.



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