High jump in revenue for Agility
Agility, a global logistics provider headquartered in Kuwait, reported a Q3/2017 net profit of USD 58.7 million, 17.4% more than in Q3/2016. The company's Q3/2017 ebitda jumped by 18.3% to USD 113 million, and revenue rose by 15% to USD 1.2 billion.
Tarek Sultan, Agility vice-chairman and CEO, said: “We remain on track to meet our 2020 ebitda target of USD 800 million. Agility’s infrastructure portfolio of companies continue to drive performance, and we are heavily investing in further growing their footprint in emerging markets across the Middle East, Asia and Africa.
Agility’s global logistics business has shown double-digit growth in air and ocean tonnage, and contract logistics revenue growth. Even so, it’s a tough market because capacity constraints and higher freight forwarding rates continue to affect profitability.
Looking ahead, we are investing in technology so that we can better serve our customers online, and drive productivity, efficiency, and operational excellence.” (mw)