Agility increases net profits in 2016 despite lower revenues

The global logistics provider recorded a net profit of KD 59.1 million on revenues of 1.23 billion for 2016.    Agility recorded a net profit of KD 59.1 million (U.S. $193.2 million) for 2016, a 10.6 percent increase from 2015, according to the company’s latest financial statements.
   However, Agility’s revenues slipped 5.3 percent year-over-year to KD 1.23 billion.
   Looking ahead, Agility CEO Tarek Sultan said, “We are focused on both continuously improving our underlying performance in GIL (Global Integrated Logistics), while also investing for the future in our Infrastructure companies. Agility is growing its Infrastructure businesses: undertaking a number of major industrial real estate projects in the Middle East and Africa over the course of the next few years, expanding the shipping fleet of its Tristar business, and investing in the Reem mega-mall in Abu Dhabi.”