Logistics player Agility sees 7.3% profit growth
The company booked KD378.8 million in Q1 revenues
Dubai: The Kuwaiti logistics firm Agility booked a net profit of KD20.3 million (Dh245.12 million) in the first quarter of 2019, off the back of KD378.8 million in revenues.
The company’s stated profits were an increase of 7.3 per cent on the first quarter of 2018.
While revenues grew by 1.9 per cent, the company’s earnings before interest, tax, depreciation and amortisation (EBITDA) was KD46.3 million, an increase of 22.8 per cent.
“Again a good start for Agility this year, though we are witnessing an environment where growth is slowing,” said Agility vice-chairman and CEO Tarek Sultan.
“We have seen good improvement across the board, and are accelerating our efforts to achieve our targets. On a reported basis, EBITDA increased 22.8 per cent and net profit improved 7.3 per cent,” he added.