Kuwait's Agility announce $25.41m net profit for Q1
Kuwaiti-based Agility (AGLTY) announced a net profit of US$25.41 million for the first quarter of 2012 yesterday.
Earnings Per Share (EPS) was 25 US cents, while revenues and EBITDA stood at $1.15 billion and $57.61 million respectively.
“2011 was the first year that we began reporting our numbers excluding defense and government contracts. Relative to this baseline, 2012 has started off on the right track,” said Tarek Sultan, Agility’s chairman and managing director. “EBITDA adjusted for one-off impacts show a 41 per cent improvement relative to the same period last year.”
“We are pushing forward with the initiatives already started last year – reinvigorating our focus on our customers, from global accounts to our SME business, continuing to push ahead with transforming our business and improving productivity through technology, completing some “fixes” to non-performing entities, and maintaining financial discipline, cost and cash management throughout the business,” he added.