Agility sees profits, revenues and airfreight increase

Kuwait-based logistics and infrastructure firm Agility saw revenues and profits increase during the first quarter of the year despite a slowing growth environment.

First-quarter revenues at the company increased by 1.9% year on year to KD378.8m ($1.2bn), while ebitda was up 22.8% to KD46.3m and net profits imporved by 7.3% to KD20.3m.

Agility vice chairman and chief executive Tarek Sultan said: “Again a good start for Agility this year, though we are witnessing an environment where growth is slowing.   We have seen good improvement across the board, and are accelerating our efforts to achieve our targets.”

However, Agility’s Global Integrated Logistics business saw revenues decreased by 1.1% on a year earlier as a result of currency fluctuations.

Airfreight tonnage grew 5.2% in Q1 2019 as volumes “grew across multiple trade lanes and sales channels with very strong performance from strategic customers”. 

Ocean freight net revenue performance was driven primarily by yield improvement and volume of 2.3%.  Q1 Contract Logistics performance was “strong”, with revenue growth of 3.6%. The Middle East/Africa region (mainly Kuwait, Dubai, Egypt) was the key driver of growth and improved margins. 

“GIL’s digital strategy involves the development of systems and technology that will improve productivity, differentiate its products, and position it as the industry’s leading innovator,” the company said.

“By accelerating its digital transformation, GIL will enhance customer and supplier connectivity, create innovative customer solutions, increase the efficiency of its business processes, and enable comprehensive business insight.”

Share this story

Related Topics

Latest business news

Asia exports boost K+N airfreight volumes in Q2

Healthcare and semiconductor shipments and Asia exports helped drive up airfreight volumes for Kuehne+Nagel (K+N) in the second quarter of…

Read More

Share this story

UPS to acquire Estafeta

UPS has entered into an agreement to acquire Mexican express delivery company Estafeta, including a fleet of six aircraft. The…

Read More

Share this story

Warning of weeks of delays to cargo operations following global IT failure

The IT failure that today grounded airline and airport operations around the world could take weeks to recover from, according…

Read More

Share this story

Air Cargo News

Air Cargo News
Established in 1983, Air Cargo News is the leading source of news, information, interviews, analyses and reports to the global airfreight industry. Our leading portfolio includes print, digital and events that give businesses in the airfreight industry the ability to connect with decision-makers in this sector.