April 30 - Kuwait headquartered logistics provider Agility has reported Q1 2013 net profits of KWD10.1 million (USD35.49 million) - a year-on-year improvement of 46 percent over Q1 2012.
The profit surge came on the back of revenues of KWD352.6 million (USD1.24 billion) - a ten percent improvement over Q1 2012.
Agility's Global Integrated Logistics (GIL) business revenue increased by 7 percent in Q1 2013 over the equivalent 2012 trading period. According to Agility, despite the ongoing weakness of the global market economy, it has expanded its customer base and reach over the last quarter.
Agility GIL secured a three-year contract with oil and gas concern Shell in a deal worth USD80 million to provide freight forwarding from locations worldwide the the Majnoon Oil Field in Iraq.
Agility's Infrastructure group contributed KWD57 million (USD200.3 million) to the Q1 total revenue - an increase of 20 percent year-over-year.