Kuwait’s Agility announced a first quarter net profit of KD18.9 million

Agility, the Kuwait-based logistics provider, on Tuesday announced a first quarter net gain of KD18.9 million, up 29.8 percent over first quarter  previous year.

Revenue for the quarter reached KD371.8 million, a raise of 16 percent in the same period in 2017, the company mentioned in a statement, adding that EBITDA was KD37.7 million, an increase of 22.6 percent.

Agility also stated that it enjoys a healthy balance sheet with KD1.8 billion in assets while its net loan position was KD83.5 million as of March 31.

Agility CEO and vice chairman, Tarek Sultan, stated, “Agility is accelerating a fast-moving transformation to establish itself as a digital leader in the logistics industry.”

He also mentioned, “We are rapidly introducing new digital products, aggressively piloting and pioneering new logistics models and technologies, and re-engineering our systems for speed and competitive advantage. We want to identify technology that makes logistics more efficient and lowers costs for customers.”

He even said, “Agility continues to deliver results. Our double-digit EBITDA growth affirms the company’s momentum over the past three years.”

 

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