Agility today announced its financial results for the third quarter of 2016, reporting a net profit of KD 15.17million, an increase of 11%compared to the third quarter of 2015. Earnings-per-share stood at 13.19 fils, and EBITDA stood at KD 28.90 million, a 19% increase compared to the same period in 2015. Revenues are at KD 312.00 million for the quarter, a 7% decrease over Q3 last year.
“We have now been seeing continuous underlying increase in the profitability of the business. This is driven by steady progress in turning around our Global Integrated Logistics business, as well as by continued financial performance and growth in our Infrastructure group of companies,” said Tarek Sultan, Agility’s CEO. “We continue to make gains in the face of a challenging business context: from sluggish economic and trade growth in key regions to political uncertainty in others. I attribute Agility’s gains to sharper strategic focus and ongoing commitment to financial discipline, even as we invest in the markets, products, and technologies that will transform our business and help us continue to lead in the future.” [Read more…]