Leading global logistics provider Agility has announced a 2016 net profit of KD 59.1 million, or 51.3 fils per share, an increase of 10.6% over the same period on 2015. Revenue for the year stood at KD 1,234.0 million and EBITDA at KD 115.2 million. It also reported fourth quarter growth, with a net profit of KD 15.7 million with an earnings-per-share of 13.6 fils, an increase of 9.7 % over the same period in 2015. EBITDA for the quarter stood at KD 31.4 million, an increase of 18.4% over last year.
“Agility generates healthy cash flows, and remains on track to reach its goal of $800 million in EBITDA by 2020,” said Tarek Sultan, Agility CEO. “Agility is growing its Infrastructure businesses: undertaking a number of major industrial real estate projects in the Middle East and Africa over the course of the next few years, expanding the shipping fleet of its Tristar business, and investing in the Reem mega-mall in Abu Dhabi. Agility’s balance sheet will move towards a net debt position as our Infrastructure companies fund their expansion plan.”