August 14 - Agility has posted a net profit of KWD13.5 million (USD44.6 million) for the second quarter of 2015 - a 5 percent increase compared with the second quarter of 2014.
"The global logistics market is a mixed bag in terms of growth, with continued sluggishness in China and Europe; and ongoing pressure on rates. In this environment, we are pleased to report that Agility continues to post steady growth in profitability," said Agility ceo Tarek Sultan.
Revenue for Agility Global Integrated Logistics (GIL) for the second quarter of 2015 was KWD259 million (USD856.3 million), which is a 4 percent year-on-year decrease. Agility puts this result down to the general logistics market performance as well as the planned end of some large contracts.
The freight forwarding market showed mixed performance in the second quarter of the year relative to the beginning of the year, with a softer air freight market and consistent ocean freight market, said Agility.
"The external market environment will continue to be a challenge for the foreseeable future with economic growth slowing in some countries, but improving in others," added Sultan. "While we cannot control these external factors, we will be strategic in our investment choices, focusing on countries, verticals, and products that have long-term potential."