Agility reported a net profit of KD 11.5 million for the second quarter of 2013, up 50 per cent over the same period last year. Revenues of KD 355.2 million were reported, up 2 per cent over Q2 of 2012.
“Agility remains on a healthy growth trajectory in spite of renewed uncertainty about the health of the global economy,” said Tarek Sultan, Chairman and Managing Director of Agility. “Our core commercial logistics business continues to drive improvements in productivity and efficiency that have enabled it to weather slowing trade volume and weakness in key regions. At the same time, our Infrastructure group of companies is generating solid growth.”
Agility Global Integrated Logistics (GIL)
Revenues in Agility’s core Global Integrated Logistics (GIL) business were slightly higher than the same quarter a year earlier, despite ongoing challenges in the global economy. During the second quarter, Agility GIL was able to expand its operations by expanding business with existing customers and winning contracts with new customers. “GIL has maintained financial discipline and taken a strategic approach to growth by concentrating on global accounts and strategic trade lanes,” Sultan said. “GIL is working towards being an even more efficient, productive and customer-focused business; Moreover, GIL’s competitive advantage lies its strong platform in emerging markets, which continue to drive global growth.”
Agility’s Infrastructure group contributed KD 59.1 million to total revenue in Q2 of 2013. For the first six months, revenues increased 9 per cent compared with the same period last year. Agility’s Real Estate business, the most significant financial contributor among the Infrastructure group of companies, improved its revenues by 14 per cent relative to Q2 of 2012. Companies in the Infrastructure group continue to show healthy and profitable growth.