KUWAIT's global logistics provider Agility posted a 24 per cent year-on-year first half net
profit increase to KWD38.9 million (US$128.3 million), drawn on
revenues of KWD756 million. up 14.1 per cent,
Second quarter net profit increased
18.7 per cent year on year to KWD20 million, reported London's Air Cargo News.
"Our second quarter results
were in line with expectations and consistent with the previous growth trend
the company has been seeing," said Agility vice chairman and CEO Tarek Sultan.
"Agility's Infrastructure
companies performed well, as did our logistics business, which witnessed
another quarter of volume and revenue growth despite margin pressure," he
said.
Agility said that air freight
continued its "strong performance" in Q2, driven by "solid
volume growth of 14 per cent and stable yields compared to the same period of
last year".
Air freight net revenue grew 21.9
per cent in Q2 and 20.3 per cent in the first half. Ocean freight had
consistent volume growth but with lower yields.
Regionally, air freight and ocean
freight performance was strongest in the Americas, Asia Pacific and Europe,
said the company statement.
Source : HKSG.
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