Agility reports $42.68m net profit for Q3, 2013
Agility reported a net profit of KD 12.1 million (US$42.68m) for the third quarter of 2013.
In a statement released today, the logistics firm announced that Earnings per Share (EPS) were11.62 fils, up 26% over the same period last year, while revenues and EBITDA stood at KD 326.7m ($1.152bn) and KD 23.6m ($83.24m) respectively.
“We continue to make steady progress in improving the bottom line, by controlling costs and improving productivity across our business, said Tarek Sultan, chairman and managing director of Agility. “That said, the slowdown in the global economy impacted our revenues however, yet we were still able to report better on the net revenues level. Our infrastructure group is showing good progress and we are excited about our most recent wins.
“We cannot control the market, but we can control our productivity and efficiency. Our focus will continue to be on staying agile to adapt to changing market conditions, while driving steady improvement in our core business.”
For the nine month period ended September 30, 2013, the company reported a net profit of KD 33.8m ($119.21m) a 40% increase from same period last year. Revenues remained flat compared to the first nine months of 2012, but EBITDA improved by 23% standing at KD 68.9m ($243m).