“Mixed bag” growth for Agility

Agility announced its financial results for the second quarter of 2015, reporting a net profit of KWD13.5 million (US$44.6 million), an increase of five per cent compared to the second quarter of 2014.


Agility announced its financial results for the second quarter of 2015, reporting a net profit of KWD13.5 million (US$44.6 million), an increase of five per cent compared to the second quarter of 2014.

EBITDA stands at KWD 25.5 million, a one per cent increase compared to Q2 of 2014.

“The global logistics market is a mixed bag in terms of growth, with continued sluggishness in China and Europe; and ongoing pressure on rates,” said Tarek Sultan, Agility’s CEO. “In this environment, we are pleased to report that Agility continues to post steady growth in profitability.”

Agility’s Global Integrated Logistics business continues to drive margin expansion through commercial transformation, financial discipline, and productivity improvements powered by technology, Sultan added.

Revenue for Agility Global Integrated Logistics (GIL) for the second quarter of 2015 was KD 259.0 million, a four per cent decrease from Q2 of 2014; GIL’s revenues were negatively impacted by currency volatility. Adjusted at constant currency rates, GIL revenues have decreased by one per cent compared to the same period last year. This slight revenue decline is a result of the general logistics market performance and also the planned end of some large contracts, Agility said. The freight forwarding market showed mixed performance in the second quarter of the year relative to the beginning of the year, with a softer air freight market and consistent ocean freight market. The contract logistics market, especially in emerging economies, continues to grow Agility added.