Profits rise at Agility

Logistics provider Agility saw EBITDA rise 17.4 per cent to KD135.2 million in 2017 on revenue of KD1.4 billion.

“In 2017, Agility posted another year of healthy growth and continued to plant the seeds for a future of sustainable growth. To reach our target of $800 million EBITDA by 2020, we remained focused on improving GIL’s performance and investing in our Infrastructure companies. For every business in the group, 2017 was a critical year,” said chief executive Tarek Sultan.

Agility Global Integrated Logistics (GIL) revenue grew 14.3 per cent to KD 1,061.6 million in 2017. The increase is attributable to growth in the freight forwarding business and contract logistics. Full year net revenue grew 2.6 per cent. Net revenue margins shrunk to 23.7 per cent from 26.4 per cent amid yield pressure across the industry.