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  • Photo: Agility

25.02.2020

Artikel Nummer: 30899

Agility reports 7% rise in net profit for 2019


Agility reported a net profit of KWD 86.8 million (EUR 261 million) in 2019, an increase of 7% from 2018. Revenue for the year reached KWD 1.578 billion (EUR 4.755 billion) and ebitda was KWD 193.1 million (EUR 580.7 million), increases of 1.8% and 24.7%, respectively.

 

“Global trade tensions, regional economic uncertainty and financial market pressure in emerging markets all contributed to a challenging year for our logistics business. Internally, the costs associated with our investment in digitisation also had an impact; one that we believe will continue in 2020,” said Tarek Sultan, Agility vice chairman and CEO.

 

Beyond digitisation, emerging markets also remain a key investment focus for the company. This includes building logistics parks across the Middle East and Africa, the Reem mega-mall project in Abu Dhabi (UAE), bringing on new ocean vessels and fuel farms through Agility's fuel logistics subsidiary and growing rapidly in Africa through its airport services subsidiary. (mw)

www.agility.com

 

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