Kuwait-based logistics provider, Agility, has reported a Q1 net profit of KD18.9m (US$62.6m), up 29.8 per cent over Q1 last year, 8 May.
Revenue for the quarter reached KD371.8m, an increase of 16 percent over the same period in 2017, the company said in a statement, adding that EBITDA was KD37.7m, a rise of 22.6 per cent.
Agility also said it enjoys a healthy balance sheet with KD1.8bn in assets while its net debt position was KD83.5m as of 31 March.
Tarek Sultan (pictured), Agility CEO and vice chairman, said: “Agility is accelerating a fast-moving transformation to establish itself as a digital leader in the logistics industry.
“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.”
“Agility continues to deliver results. Our double-digit EBITDA growth affirms the company’s momentum over the past three years,” he added.
