Kuwait’s Agility posts 7% increase in annual profit – The National

Kuwait’s Agility posts 7% increase in annual profit – The National

Kuwaiti firm Agility warned that global economic "volatility" may impact its core logistics business in 2020 after it posted a seven per cent increase in full-year profit as revenue rose.. Net profit rose to 86.6 million dinars (Dh1 billion) in 2019, from 81.1m dinars in the previous year, Kuwait-listed Agility said in an emailed statement on Saturday.. Net revenue increased 6.7 per cent to 531.4m dinars year-on-year.. Quarterly net revenue rose 17.3 per cent.. The unit's earnings before interest, tax, depreciation and amortization for 2019 declined 1.4 per cent to 35.4m dinars year-on-year mainly due to costs associated with accelerating its digital transformation, Agility said.. "Global trade tensions, regional economic uncertainty, and financial market pressure in emerging markets all contributed to a challenging year for our logistics business," Mr Sultan said.. GIL's fourth quarter EBITDA was 10.9m dinars, a 3.8 per cent decline over the same period in 2018.. GIL's fourth-quarter net revenue reached 70 million dinars, a 3.3 per cent increase from the same quarter in 2018.. The volume decline was partially offset by higher yields - or net revenue per ton - which increased 1.1 per_cent from the same quarter last year.. For the last quarter of 2019,