Agility's GIL on a good footing
Global forwarder Agility has released its results for Q1/2021. A net profit of KWD 12.6 million (USD 42 million) represents an increase of 28.7% over the same period in 2020. Ebit surged by 31% to KWD 26.9 million (USD 89.4 million), while revenues went up likewise by 28.6% to KWD 485.5 million (USD 1.61 billion).
Tarek Sultan, Agility vice chairman and CEO, commented that “Agility’s global integrated logistics business performed well."
GIL was recently sold to DSV. Yet Sultan said that the deal “allows us to retain the assets generating the bulk of our operating profit.”
In Q1/2021, GIL achieved an ebit of KWD 16.4 million (USD 54.5 million), a 936.1% increase from the same period of the previous year, while net revenues surged by 16.2% to KD 77.2 million (USD 256.5 million). Volumes surged 14.8% over Q1/2020 levels. (sh)