Agility's second quarter net profit slips 9 per cent

Dubai: Logistics solutions provider Agility's net profit slipped by 9 per cent to 35.13 million Kuwaiti dinars compared to 38.6 million Kuwaiti dinars in the second quarter of 2007.

Agility's total gross revenue for the second quarter of 2008 increased by 10.5 per cent from 418.2 million Kuwaiti dinars in 2007 to 462.06 million Kuwaiti dinars.

The net revenues compared to the same period last year, went up by 8.9 per cent from 149.8 million Kuwaiti dinars to 163.06 million Kuwaiti dinars.

The company's operating profit of 40.72 million Kuwaiti dinars reached 43.6 million Kuwaiti dinars, down 6.6 per cent from the previous year.

“The second quarter of 2008 has continued to be inline with our expectations,'' said Ehab Aziz, Group Chief Financial Officer for Agility.

The earnings per share, after adjusting the 2007 stock dividends were 33.80 Kuwaiti fils compared to 36.85 fils per share in 2007.