Latest news from Heavy Lift & Project Forwarding International Magazine

Profit up, revenue down at Agility

May 9 - Agility posted a net profit of KWD13.1 million (USD43.4 million) for the first quarter of 2016, which is an increase of 10.9 percent; and a revenue of KWD298.8 million (USD991.7 million) - a 6.1 percent decrease compared with the same period of 20

"Agility started the year on a good note," said Agility ceo Tarek Sultan. "Net profit improved 10.9 percent, despite challenging market conditions in the Eurozone, China and the Middle East."

"Our efforts to define a clearer strategy and improve execution are paying off in stronger customer relationships, an expanding emerging market footprint, a sharper focus, and a more disciplined management approach."

Agility Global Integrated Logistics (GIL) posted a revenue of KWD225.8 million (USD749.4 million) in the reporting period, which is a 0.6 percent year-on-year improvement.

"There were two major drivers for net revenue improvement in GIL this quarter. First, continued growth in contract logistics…Second, improved yields in the freight forwarding business," commented Sultan.

Sultan added that Agility's long-term target is to reach an EBITDA of USD800 million by 2020.

"We have a demanding road ahead to achieve this target, but have also defined a clear strategy and roadmap to meet this goal."

 

www.agility.com

Heavy Lift | News

Ceva launches BRI block train thumbnail image

Ceva launches BRI block train

April 22 - Ceva Logistics North Asia has launched a block train service from China to Europe as the company looks to tap into the potential of the Belt and Road Initiative (BRI).
Views: 198
Crowley promotes Sandra Goranovic thumbnail image

Crowley promotes Sandra Goranovic

April 22 - Crowley Maritime has appointed Sandra Goranovic as vice president of finance and accounting for the Crowley Shipping business unit.
Views: 205
Big Bend Channel expanded thumbnail image

Big Bend Channel expanded

April 22 - Port Tampa Bay in Florida has completed the USD63 million expansion of the Big Bend Channel, one year ahead of schedule.
Views: 269
Penman joins Malin React thumbnail image

Penman joins Malin React

April 22 - Malin Group has named Graham Penman as business unit manager of its recently launched Malin React division.
Views: 1173

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.