May 8 - Agility posted a net profit increase of 11 percent at KD11.24 million (USD40 million) in the first quarter of 2014 compared with the same period of 2013.

However, revenues for the first quarter dropped by 11 percent compared with 2013 at KD314.28 million (USD1.1 billion), while EBITDA stood at KD22.48 million (USD80 million), a 4 percent increase on the first quarter of 2013.

"Overall, Agility continues to improve its financial performance by focusing on growing its infrastructure portfolio of companies and simultaneously driving transformation of its core commercial logistics (GIL) business," said ceo of Agility, Tarek Sultan.

Revenue for Agility's Global Integrated Logistics (GIL) business dropped 15 percent to KD253.3 million (USD902.2 million) year-on-year in the first quarter of 2014.