Agility reports 16.1 million Kuwaiti dinars in net profit in Q2 2022

Agility reports 16.1 million Kuwaiti dinars in net profit in Q2 2022

Kuwait-based Agility, an operator and long-term investor in supply chain services, infrastructure, and innovation, reported first-half 2022 earnings of 11.41 fils per share on a net profit of 28.8 million Kuwaiti dinars. Profits from continuing operations, which exclude performance of the GIL business sold by Agility in 2021, increased 71.5 per cent from 16.8 million dinars to 28.8 million dinars. EBITDA increased 21.5 per cent to 71 million dinars, and revenue grew 22.9 per cent to 270.5 million dinars. For the second quarter, Agility reported earnings of 6.35 fils per share on a net profit of 16.1 million dinars. Net profits from continuing operations increased 2 per cent from the same period last year. EBITDA was 37 million dinars, a decline of 4.1 per cent. Adjusted EBITDA, for non-recurring items in both quarters, showed an increase of 8.6 per cent. Revenue grew 23.4 per cent to 138.4 million dinars. “Agility continues to deliver good results amid challenging market and geopolitical conditions. Our owned and operated, or controlled businesses reported year-over-year growth, and we expect continued growth and performance in our operations in 2022. Our goal is to grow these businesses further. The Menzies acquisition, which we concluded earlier this month,