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CSAFE Global


Fuel a more sustainable future

KUWAIT CITY: May 24, 2017. Agility is to pay a US$551.00 to settle a criminal case relating to its U.S. government food-supply contracts between 2003 and 2010.

Tarek Sultan Agility CEOThe logistics company agreed to plead guilty to a misdemeanor in connection with a single invoice valued at $551.00 and said a settlement is conditional upon it signing a separate agreement with the U.S. Department of Justice to resolve an outstanding civil case.

Agility said it has also settled with the Defense Logistics Agency (DLA) resolving all pending and potential administrative claims between Agility and the DLA, subject to resolving the civil case.

Once completed, the U.S. government has agreed to remove Agility from a list of suspended companies within 60 days, thus allowing the company to bid on future government contracts.

Earlier this month Agility reported a Q1 2017 net profit of KD14.6 million on revenue of KD320.5 million – a year-to-year increase of 11.1 percent and 7.3 percent respectively.

EBITDA rose 17.4 percent to KD30.8 million for the quarter as the company targets KD246 million by 2020 according to CEO Tarek Sultan (right): "Our performance has been driven by strong growth in our Infrastructure companies in emerging markets and by the steady progress we have made in improving the underlying fundamentals of our commercial logistics business," he said.

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