LOC15:41
12:41 GMT
KUWAIT, Feb 21 (KUNA) -- The Kuwait-based logistics company Agility announced Wednesday its 2017 financial results, reporting a net profit of KD 68.5 million, or 54.4 fils per share, an increase of 16 percent over 2016.
Revenue for the year reached KD 1,407 million and EBITDA was KD 135.2 million, the company said in a press statement.
For the fourth quarter 2017, Agility reported a net profit of KD 19.3 million, or 15.3 fils per share, an increase of 22.5 percent over Q4 2016, the statement said, adding EBITDA for Q4 2017 was KD 37.6 million, an increase of 19.8 percent.
"Agility thanks its shareholders, customers, employees and partners for a strong year. The company continues to grow in emerging markets logistics parks, fuel logistics, airport services, and commercial real estate development, said Tarek Sultan, Agility CEO and Vice Chairman.
"The core commercial logistics business is also growing its volumes, despite margin pressure in a tight market. Agility is accelerating its strategy to transform the business through technology and establish its position as the leading digital player in our industry," Sultan added.
"In 2017, Agility posted another year of healthy growth and continued to plant the seeds for a future of sustainable growth. To reach our target of USD 800 million EBITDA by 2020, we remained focused on improving GIL's performance and investing in our Infrastructure companies," he said.
Agility is one of the world's leading providers of integrated logistics. It is a publicly traded company with more than USD 4.6 billion in revenue and more than 22,000 employees in over 500 offices across 100 countries. (end)
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