Agility posts USD 43.6 mln net profit in Q1 2016

KUWAIT, May 8 (KUNA) — Agility has posted a net profit of KD 13.1 million (USD 43.6 million) during the first quarter of 2016, marking a rise of 10.9 percent compared with the responding period of 2015, the company reported on Sunday.
Earnings-per-share stood at 11.4 fils, and EBITDA increased by 12.1 percent, to KD 26.2 million, compared with Q1 2015. Revenue for the first quarter stood at KD 298.8 million, 6.1 percent decrease vs. the same period last year.
“Agility started the year on a good note. Net profit improved 10.9 percent, despite challenging market conditions in the Eurozone, China and the Middle East,” said CEO Tarek Sultan.
“Our efforts to define a clearer strategy and improve execution are paying off in stronger customer relationships, an expanding emerging market footprint, a sharper focus, and a more disciplined management approach,” he added.
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