Agility Logistics reports Q2 growth in net income, airfreight volume
Kuwait-based Agility Logistics has released its Q2 2018 financial results, which show a 20 percent increase in net profit and a 14 percent increase in volume, year-over-year, in its airfreight segment for the three-month period ended in June 30, 2018.
Its freight forwarding and contract logistics segments were the two major drivers of revenue within Agility Global Integrated Logistics (GIL), the commercial arm of the company.
Despite the perceived negative effects of protectionist policies on Asia-Pacific and European trade, Agility said performance in air- and oceanfreight was strongest in the regions of the Americas, Asia-Pacific and Europe.
During Q2, it completed the first phase of development of its new Riyadh-based warehousing facility, which currently has 80,000 square meters of space, and began the second phase, which will add another 120,000 square meters of capacity by next year.
Agility’s real estate sector encompasses distribution, manufacturing, retail and transportation centers for clients in oil and gas, chemicals, electronics, defense, pharmaceuticals and consumer packaged goods.
The company is also said it is investing in Africa – moving forward on a development project in Ghana, along with plans to build in nearby Nigeria and Cote d’Ivoire, and on the east coast in Mozambique.
