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English news

13-Nov-2016

Agility 3Q16 earnings grow c11% Y-o-Y despite revenue slowdown

Agility Public Warehousing Company (AGLT.KW) announced its financial results for 3Q16, with earnings growing c11% Y-o-Y to reach KWD15mn, and despite revenue declining 7% Y-o-Y reaching KWD312mn, which the company attributed to higher profitability, as EBITDA grew 19%. General Integrated Logistics revenue (73% of total agility 3Q16 revenue) dropped 8% Y-o-Y to KWD229mn, which the company attributed to the slowdown in the Oil and Gas Market, yet margins expanded 1 PP to 26%. Agility’s infrastructure group( 27% of 3Q16revenues) reached KWD86mn, where the biggest contributor to the segment, Agility Real estate, saw 7% revenue growth. The company added that Agility’s infrastructure segment continues to be the largest contributor to Agility’s profitability. (Company Disclosure)

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