Agility has announced its financial results for the second quarter of 2016, reporting a net profit of KD15m, an increase of 11 per cent compared to the second quarter of 2015. Earnings-per-share stood at 13 fils, and EBITDA stood at KD 29m, a 12 per cent increase compared to Q2 of 2015. Revenues are KD309m for the quarter.
“We started the year on a good note and are sustaining this momentum as the year progresses. Within our Global Integrated Logistics 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,” said Tarek Sultan, Agility’s CEO. “Companies in the Agility Infrastructure group continue to grow as we tap into excellent opportunities in emerging markets and focus on improving efficiency across the board.”
Q2 revenue for Agility Global Integrated Logistics (GIL) stood at KD233m, a 10 per cent decrease from Q2 of 2015, mainly due to the low shipping and fuel rates in the market. Net revenue remained flat when adjusted at constant currency rates, with margins expanding from 25 per cent in Q2 2015 to 27 per cent in Q2 2016.