Agility grows profits 10%

The integrated logistics provider saw increased revenues in both its Global Integrated Logistics and infrastructure business units.    Integrated logistics provider Agility posted net profits of 50.84 million Kuwaiti Dinars (U.S. $169 million) for the full year in 2014, an increase of 10 percent compared to the previous year, according to its most recent financial statements.
   The company’s combined year-over-year revenues decreased 1 percent to KD 1.36 billion for 2014, while net revenues increased 1 percent in the same period. Earnings before interest, taxes, debt and amortization (EBITDA) were KD 99.97 million for the year, a 6 percent increase compared to 2013.
   For Q4 2014, Agility reported a net profit growth of 10 percent to KD 13.70 million on revenues of KD 364.29 million, a 6 percent increase compared to the Q4 2013. EBITDA also increased 7 percent for the quarter to KD 26.84 million.
   Revenues from Agility’s Global Integrated Logistics business unit were up 6 percent to KD 1.06 billion for the full year in 2014. The company attributed this growth primarily to continued expansion of contract logistics across the Middle East and Asia and an improvement in Agility’s air freight yields, which offset some of the continued margin pressure on the ocean freight side.
   The company’s infrastructure group had revenues of KD 302.90 million, an 18 percent increase from 2013. 
   “Agility has steadily grown bottom-line profitability across its various business entities over the last three years,” said Vice Chairman and CEO Tarek Sultan. “Agility will continue to drive margin expansion in its Global Integrated Logistics business by focusing on strengthening its operating platform, maintaining financial discipline, and focusing on high-growth markets, products, and verticals. 
   “We will also continue to grow our Infrastructure portfolio of companies, which are uniquely positioned to capture opportunities in niche segments in emerging markets,” Sultan added. “A key part of this growth will include accelerating our expansion on the African continent.”