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Ups and downs for Agility

August 8 - Despite a drop in revenue, Agility posted a net profit of KWD15 million (USD49.7 million) in the second quarter of 2016 - an 11 percent increase compared with the same period of 2015.

Agility recorded revenue of KWD309 million (USD1.02 billion) in the reporting period, representing a 6 percent year-on-year decrease.

"We started the year on a good note and are sustaining this momentum as the year progresses," claimed Agility ceo Tarek Sultan.

"Within our Global Integrated Logistics (GIL) business, we are making gains even in the face of a challenging freight forwarding market because we have found ways to be more efficient, improve productivity, demonstrate financial discipline and make operations more responsive to the marketplace and customers' needs."

Within its GIL business, revenues dropped 10 percent year-on-year, which Agility attributed to low shipping and fuel rates in the market.

Despite a subdued freight forwarding market, Sultan noted that the company was able to record growth in its air and ocean markets by focusing on products and markets that are growing.

www.agility.com

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