English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

Agility Logistics "mixed bag" growth


August 14, 2015: Agility today announced its financial results for the second quarter of 2015, reporting a net profit of KD 13.5 million, an increase of 5.0 percent compared to the second quarter of 2014.

"The global logistics market is a mixed bag in terms of growth, with continued sluggishness in China and Europe; and ongoing pressure on rates. In this environment, we are pleased to report that Agility continues to post steady growth in profitability," said Tarek Sultan, Agility's CEO.

"Agility's Global Integrated Logistics business continues to drive margin expansion through commercial transformation, financial discipline, and productivity improvements powered by technology."

"Agility's Infrastructure group of companies, which capture investment opportunities in niche logistics-related segments in emerging markets, each have their own strategy. Across the board, however, there is an emphasis on improving efficiency and growing potential through regional and customer expansion," he added.

Revenue for Agility Global Integrated Logistics (GIL) for the second quarter of 2015 was KD 259.0 million, a 4.0 percent decrease from Q2 of 2014; GIL's revenues were negatively impacted by currency volatility.

The company said the freight forwarding market showed mixed performance in the second quarter of the year relative to the beginning of the year, with a softer airfreight market and consistent ocean freight market. The contract logistics market, especially in emerging economies, continues to grow however.

This growth in contract logistics demand, coupled with improved yields in Agility's airfreight business, and better commercial disciplines, has resulted in margin expansion within GIL.

Agility's Infrastructure companies contributed KD 71.1 million to second quarter 2015 revenues. Net revenues for this group of companies showed an 8% increase over the same period last year.

Agility Real Estate, the largest contributor in the group, grew its revenues by 10.0 percent in Q2 2015, compared to the same period in 2014. Other Infrastructure companies have also reported healthy growth in this quarter and are making progress in new customer acquisition and geographic expansion.

Financial Performance for Q2 2015:

- Agility's net profit stands at KD 13.5 million, a 5.0 percent increase from KD 12.8 million in Q2 2014. EPS stands at 11.79 fils, compared to 11.18 fils a year earlier.
- EBITDA stands at KD 25.5 million, a 1% increase from the same period a year before.
- Agility's revenues for Q2 2015 are KD 328.4 million, a decrease of 4.0 percent from KD 341.7 million in the same period in 2014. Agility's net revenues have increased by 3.0 percent over the same period.
- GIL's revenue stands at KD 259.0 million, adjusted at constant currency rates represents a decrease of 1.0 percent compared to the same period in 2014 (a 4.0 percent decrease on a reported basis).GIL's revenue stands at KD 259.0 million, adjusted at constant currency rates represents a decrease of 1.0 percent compared to the same period in 2014 (a 4.0 percent decrease on a reported basis).
- Infrastructure's revenue was KD 71.1 million compared with KD 72.7 million in Q2 2014. The Infrastructure group's NR has shown an 8.0 percent increase over the same period last year.
- Agility enjoys a healthy balance sheet, with a net cash position of KD 17 million as of 30th June 2015.Agility enjoys a healthy balance sheet, with a net cash position of KD 17 million as of 30th June 2015.


"The external market environment will continue to be a challenge for the foreseeable future with economic growth slowing in some countries, but improving in others. While we cannot control these external factors, we will be strategic in our investment choices, focusing on countries, verticals, and products that have long-term potential," said Sultan.

More News

Written on 17/11/2017, 23:08
qantas-plans-mustard-power-for-trans-pacificSYDNEY: November 18, 2017. Qantas is to operate the world's first bio-fuel B787-9 flight between Melbourne and Los Angeles next year based on Brassica...
Written on 17/11/2017, 20:43
yusen-buys-tibbett-logistics-in-romaniaWOODFORD GREEN, UK: The Keswick Enterprises Group is selling its Romanian Tibbett Logistics subsidiary to Amsterdam-based Yusen Logistics (Europe). The...
Written on 17/11/2017, 19:33
walmart-and-j-b-hunt-to-test-teslaLOWELL, AR: November 17, 2017. U.S. logistics company J.B. Hunt Transport Services has made multiple reservations at US$5,000 each for new Tesla 'Semi'...
Written on 14/11/2017, 17:49
port-record-prompts-savannah-rail-expansionSAVANNAH, GA: November 13, 2017. The Georgia Ports Authority (GPA) has approved a further US$42.27 million for its US$128 million Mason Mega Rail...
Written on 13/11/2017, 22:01
freightweek-news-update-week-46ASHBY-DE-LA-ZOUCH, UK: November 16, 2017. CEVA Logistics has added to its investment in pharmaceutical logistics with the opening of a fully refurbished...
Written on 13/11/2017, 20:56
amerijet-adds-to-sales-network-and-b767-fleetMIAMI: November 13, 2017. Amerijet International is due to take delivery of another B767-300 from Cargo Aircraft Management, a subsidiary of the...
Written on 10/11/2017, 21:36
turkish-cargo-q3-revenue-jumps-40-percentISTANBUL: November 09, 2017. Turkish Airlines has reported Q3 revenue of US$3.6 billion, an operating profit of US$1.07 billion and a net profit of...
Written on 10/11/2017, 18:00
ironhorse-joins-fedex-on-mexico-borderSANTA TERESA, NM: November 08, 2017. Ironhorse Resources, parent company of five shortlline U.S. railroads including the Santa Teresa Southern Railroad...
Written on 09/11/2017, 22:02
four-logistics-hubs-for-heathrow-s-third-runwayLONDON HEATHROW: November 08, 2017. In anticipation of government approval to build its third runway, Heathrow has published a list of 65 so-called...
Written on 09/11/2017, 01:25
fedex-signs-atr-freighter-orderTOULOUSE, November 08, 2017. FedEx Express has signed a contract with ATR to purchase 30 ATR 72-600F freighters plus 20 options. The price was not...
Written on 08/11/2017, 20:04
astral-aviation-working-for-africa-s-progressABIDJAN/NAIROBI: November 08, 2017. The Green Climate Fund (GCF), set up as a result of the UN Paris Agreement, has partnered with the African Development...
Written on 07/11/2017, 22:53
maersk-maneuvers-for-logistics-management-futureCOPENHAGEN: November 07, 2017. A.P. Møller – Mærsk has reported a 14 percent rise in Q3 revenue to US$8 billion; EBITDA earnings of US$978 million; and...
Written on 07/11/2017, 21:34
lng-to-power-cma-cgm-orderMARSEILLE: November 07, 2017. CMA CGM says its order for nine 22,000 TEU containerships with the first due for delivery in 2020 will be powered by...
Written on 07/11/2017, 20:22
ups-joins-blockchain-allianceATLANTA: November 07, 2017. UPS has joined the Blockchain in Trucking Alliance (BiTA), a forum for the development of blockchain technology standards and...
Written on 06/11/2017, 20:46
freightweek-news-update-week-45DUBAI: November 12, 2017. Emirates has ordered 40 B787-10 aircraft valued at US$15.1 billion (AED 55.4 billion) for delivery beginning in 2022. Read...
Written on 03/11/2017, 22:27
turkish-cargo-benefits-from-envirotainer-accreditationSAN FRANCISCO, November 01, 2017. The Bio Supply Management Alliance (BSMA), a community of supply chain professionals in the biotech, biopharma, and...
Written on 03/11/2017, 21:16
etihad-to-cancel-dallas-serviceABU DHABI: November 02, 2017. Following American Airlines' decision to end code share agreements with Qatar Airways and Etihad Airways next year, Etihad...
Written on 03/11/2017, 14:37
new-crowley-link-between-north-carolina-and-central-americaWILMINGTON, NC: November 02, 2017. Crowley Maritime will begin a weekly, fixed-day, FCL and LCL service from the Port of Wilmington to Guatemala and...
Written on 03/11/2017, 14:29
mercedes-fleet-arrives-in-time-for-angola-s-presidentLEIPZIG: November 01, 2017. Volga-Dnepr Airlines used a two-tier racking system developed for its AN-124-100 freighter fleet to deliver 30 Mercedes on a...
Written on 31/10/2017, 22:37
ecs-group-and-ram-cargo-sponsor-new-jersey-heroesCASABLANCA: October 31, 2017. Royal Air Maroc (RAM) Cargo has launched a new personal effects service on its flights from the U.S. and Canada via...

- powered by Quickchilli.com -