The integrated logistics provider increased net profits in first quarter 2015 thanks to 1% growth in company revenues.
Integrated logistics provider Agility increased its net profits 5 percent to 11.8 million Kuwaiti Dinars (U.S. $39.19 million) in the first quarter of 2015 compared to the first quarter of 2014. The company increased combined revenues 1 percent to KD 318.1 million in the same period, according to Agility’s most recent financial statements.
Adjusted for currency translation, revenues in Agility’s Global Integrated Logistics business unit increased 2 percent to KD 248.0 million in Q1 2015. The company attributed the increase primarily to “continued growth in contract logistics in emerging markets, coupled with improved yields in the airfreight business.”
Agility’s Infrastructure companies increased first quarter revenues 15 percent to KD 70.3 million compared to the same quarter a year ago. Agility Real Estate, the largest contributor in the company’s Infrastructure group, saw its revenues grow 5 percent in the quarter.
“Although the global economy continues to be in stop and start mode, we are cautiously optimistic about our start to this year,” CEO Tarek Sultan said of the results. “We started out on a good note, driving margin expansion in GIL and revenue growth in our Infrastructure portfolio. GIL will continue to sharpen its strategic focus in terms of customers, markets, and products, as well as build capacity in its business through operational transformation and a commitment to strong execution.
“The Infrastructure companies will each pursue their individual strategies, but we expect that as a group, they will remain and important and growing contributor to the group’s profitability,” he added.
Headquartered in Kuwait, Agility employs more than 20,000 people in over 500 offices across 100 countries worldwide, providing supply chain solutions, logistics services, and infrastructure management to a wide range of customers.
Agility’s Q1 profits up 5%
