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            november 20, 2019

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Agility annual profits up 16pc as sales rise 14pc


Global Kuwaiti logistics provider Agility's net profit increased 16 per cent year on year in 2017 to KWD68.5 million (US$228.2 million), drawn on revenues of KWD1.4 billion, up 14 per cent.
"In 2017, Agility posted another year of healthy growth and continued to plant the seeds for future sustainable growth," said Agility CEO Tarek Sultan.
Agility Global Integrated Logistics (GIL), which includes Agility forwarding and contract logistics, saw revenue grow 14.3 per cent to reach a little over KWD1 billion in 2017, reports London's Air Cargo News.
In the fourth quarter, forwarding and contract logistics revenue rose to KWD293 million, up 21.5 per cent year on year. Revenues from air and ocean were upt 25 per cent with air cargo volume rising 9.7 per cent.
National Aviation Services (NAS), Agility's airport services unit, enjoyed healthy growth in Kuwait, Cote d'Ivoire and Afghanistan during 2017. Revenue earned in Cote d'Ivoire and Afghanistan grew by more 20 per cent year on year.
Late last year, NAS launched operations in Liberia and Uganda. Meanwhile, the company is said to be "working to turn around performance in Tanzania and Morocco".

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