Kuwait headquartered Agility continued its strong performance in air freight in the second quarter (Q2) of this year as volumes and revenues both grew strongly.
The freight forwarder and logistics company said volumes increased year-on-year YOY) by 14 per cent and yields were stable compared to the same period of last year.
Air freight net revenue grew YOY by 21.9 per cent in Q2 and 20.3 per cent in the first half of 2018 and the strongest regions for business were the Americas, Asia Pacific and Europe.
Agility’s overall net profit in Q2 was up YOY by 18.7 per cent to KD 20 million ($65 million) and in the first six months of the year it was up YOY by 23.9 per cent to KD 38.9 million.
Overall revenue in Q2 was up YOY by 12.3 per cent to KD 384.2 million and for the first half of the year it was up YOY by 14.1 per cent to KD 756 million.
Agility vice chairman and chief executive officer, Tarek Sultan said: “Our second quarter results were in line with expectations and consistent with the previous growth trend the company has been seeing. Agility’s Infrastructure companies performed well, as did our logistics business, which witnessed another quarter of volume and revenue growth despite margin pressure.”