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Strong air freight drives up Agility's Q3 earnings to US$65.7m
来源： 编辑：编辑部 发布：2018/11/17 10:20:23
KUWAIT-HEADQUARTERED logistics firm Agility's third-quarter net profit rose 12.3 per cent year on year to reach KD20 million (US$65.724 million) on total revenue of KD394.4 million, up 10 per cent, with the strong performance driven by air freight volume growth.
Revenue from its Agility Global Integrated Logistics (GIL) business grew seven per cent year on year to KD292.2 million, again pushed up by air freight, which saw its revenue jump by 15.6 per cent, reported London's Air Cargo News.
"Strong air freight performance was driven by increases in both tonnage and yield growth," the company said. "In third quarter 2018 air tonnage increased 11.4 per cent versus third quarter 2017. Air freight grew across multiple trade lanes and customer segments."
"Our third-quarter results build on the momentum Agility has achieved throughout 2018," with the company highlighting that it saw double-digit ebitda growth in its logistics business and across its portfolio of subsidiary companies. Its total third quarter earnings before interest, tax depreciation and amortisation were up 14.8 per cent year on year to KD39.2 million.
"The company's investments in technology and emerging markets infrastructure are paying off with better productivity, a growing customer base and a diversified service and geographical offering.
"The company continues to track towards its goal of $800 million ebitda by 2020 and its objective of becoming the digital leader in the logistics industry."
Revenue from its Agility Global Integrated Logistics (GIL) business grew seven per cent year on year to KD292.2 million, again pushed up by air freight, which saw its revenue jump by 15.6 per cent, reported London's Air Cargo News.
"Strong air freight performance was driven by increases in both tonnage and yield growth," the company said. "In third quarter 2018 air tonnage increased 11.4 per cent versus third quarter 2017. Air freight grew across multiple trade lanes and customer segments."
"Our third-quarter results build on the momentum Agility has achieved throughout 2018," with the company highlighting that it saw double-digit ebitda growth in its logistics business and across its portfolio of subsidiary companies. Its total third quarter earnings before interest, tax depreciation and amortisation were up 14.8 per cent year on year to KD39.2 million.
"The company's investments in technology and emerging markets infrastructure are paying off with better productivity, a growing customer base and a diversified service and geographical offering.
"The company continues to track towards its goal of $800 million ebitda by 2020 and its objective of becoming the digital leader in the logistics industry."