Agility turns in 37% rise in 2013 net profit

Agility has announced its financial results for the fourth quarter 2013, reporting a net profit of KWD 12.4 million (US$44 million), an increase of 29 per cent compared to the fourth quarter of 2012.


Agility turns in 37% rise in 2013 net profit


Agility has announced its financial results for the fourth quarter 2013, reporting a net profit of KWD 12.4 million (US$44 million), an increase of 29 per cent compared to the fourth quarter of 2012. Revenues for the fourth quarter stand at KWD 342.9 million, and EBITDA at KWD 25.1 million.

For the full year ended 31 December 2013, net profits stand at KWD 46.2 million, an increase of 37 per cent over the full year of 2012 while revenue and EBITDA were KWD 1.4 billion and KWD 94 million, respectively.

“Agility is continuing to gain strong ground. We will continue to grow along two main fronts. One, by improving performance in the core Global Integrated Logistics (GIL) business through technology-driven transformation, ongoing focus on global accounts and field sales, and maintaining financial discipline. Two, by growing the individual companies within our Infrastructure portfolio, expanding their geographic reach, and diversifying their customer base. Our diversified business model allows us to hedge risk and take advantage of niche market segments in emerging markets, while making steady progress in improving our underlying business,” said Tarek Sultan, Agility’s CEO.