Net profit up 5% in Q3 for Agility

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Cargo is loaded on to a freighter

Agility has posted a net profit of 13.7 million Kuwaiti Dinar (KD) ($45 million) in the third quarter (Q3) of 2015, an increase of five per cent compared to Q3 of 2014.

The logistics company says for the first nine months of 2015, its profits were 39 million KD, a five per cent rise from same period last year. Revenues were 981.5 million KD.

Agility says the overall logistics sector turned in a mixed performance in Q3 and airfreight “softened” in the quarter.

The firm’s chief executive officer, Tarek Sultan says: “The global logistics market remains soft as the result of flat or declining trade volumes and weakness in key economies around the world.

“Even so, we have continued to make gains in our core commercial logistics business 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.

“Companies in the Agility Infrastructure group are also looking to be more efficient while, at the same time, finding excellent opportunities in emerging markets.”