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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)


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