Agility grows Q3 earnings, revenues

The global third-party logistics provider recorded net profits of 17.8 million Kuwaiti dinars (U.S. $58.8 million) on revenues of KD 358.5 million for the quarter, increases of 17.4 percent and 15 percent year-over-year, respectively.    Agility’s net profits for the third quarter of 2017 jumped 17.4 percent uptick from last year’s third quarter to 17.8 million Kuwaiti dinars (U.S. $58.8 million), the company revealed Sunday.
   The global logistics provider’s revenues stood at KD 358.5 million for the quarter, up 15 percent year-over-year.
   Revenues from Agility’s global integrated logistics segment totaled KD 273 million for the quarter, rising 19.4 percent from last year’s third quarter.
   “Agility’s global logistics business has shown double-digit growth in air and ocean tonnage, and contract logistics revenue growth,” Agility Vice Chairman and CEO Tarek Sultan said. The segment posted a 16.1 percent year-over-year boost in air tonnage, while ocean TEU shipments rose 12 percent. However, Sultan noted that capacity constraints and higher freight forwarding rates continue to impact profitability.
   Meanwhile, Agility’s infrastructure companies recorded revenues of KD 91 million for the quarter, an increase of 4 percent from the same 2016 period.
   “Agility’s infrastructure portfolio of companies continue to drive performance, and we are heavily investing in further growing their footprint in emerging markets across the Middle East, Asia and Africa,” Sultan said.