Agility reports generally positive first quarter

Integrated logistics services provider Agility has revealed its financial results for the first quarter of 2016, highlights including a net profit of KD13.1m ($43.5 million) – an increase of 10.9% over the first quarter of 2015.
However, revenue fell to KD298.8m ($991.25m), a 6.1% decrease over the same three months of last year.
“Agility started the year on a good note. Net profit improved 10.9%, despite challenging market conditions in the Eurozone, China and the Middle East,” observed Agility CEO Tarek Sultan.
“Our efforts to define a clearer strategy and improve execution are paying off in stronger customer relationships, an expanding emerging market footprint, a sharper focus, and a more disciplined management approach,” he added.
Improved yields in the freight forwarding business were partly responsible for increased revenue and improved margins at Agility’s Global Integrated Logistics (GIL) division.
“We continue to improve our financial performance by focusing on growing our Infrastructure portfolio of companies and simultaneously driving transformation of our core commercial logistics (GIL) business,” Sultan said.

Share this story

Related Topics

Latest freight forwarder news

Air cargo rates continue to decline in November

By Damian Brett

Air cargo pricing on some of the world’s major trade lanes continued to decline in November, bucking usual seasonal trends….

Read More

Share this story

DB Schenker set for reorganisation

By Damian Brett

Freight forwarding giant DB Schenker is planning to restructure in order to “simplify” and “reduce administration costs”, according to Air…

Read More

Share this story

MSC Air Cargo prepares for take off as first freighter arrives

By Damian Brett

MSC Air Cargo will soon launch operations as its partner airline Atlas Air has taken delivery of the first freighter…

Read More

Share this story