May 18 - Global forwarder Agility has revealed Q1 2012 results that show the logistics provider had a net profit of USD 25 million in the quarter.
Tarek Sultan, Agility's chairman and managing director, says: "[Last year] was the first year that we began reporting our numbers excluding defence and government contracts. Relative to this baseline, 2012 has started off on the right track."
Agility's Infrastructure group contributed USD170.3 million to total revenue in the quarter. Agility's Real Estate business remains the main contributor to revenues of the Infrastructure group, growing 14 percent in Q1 of 2012 relative to Q1 of 2011. Other Agility Infrastructure businesses have also shown continued growth compared to last year, notes Sultan.
"We have worked hard to restructure the business in the last two years, and as a result, we are today a strong and stable company - more streamlined, efficient, and competitive. Although we still have work ahead to complete the turnaround in our commercial business, I am confident that we are focusing on the right priorities. I also believe in the company's workforce - they have been a critical part of our success, and are foundational to our future," he says.