Agility reported its net income rose 4 percent, to $1.34 billion in 2015.
\nLower gross revenues for Agility, the Kuwait-based integrated logistics provider, did not put a damper on the company\u2019s 5 percent year-over-year jump in 2015 net profit, which grew to US$175 million.
\nThe group blamed \u201cchallenging market conditions and exposure to currency fluctuations\u201d for the drop in gross revenues, which, along with earnings before interest, tax, depreciation and amortization (EBITDA), were less-than-stellar in 2015.\u00a0 Gross revenue dropped 4 percent to $4.3 billion, while EBITDA remained unchanged from 2014, at $331 million.
\nAgility\u2019s smaller infrastructure unit outperformed its integrated logistics unit in terms of growth in revenue, though the unit represents only a quarter of the group\u2019s business. On a constant currency basis, infrastructure revenue rose 4 percent to $1.04 billion, while logistics revenue reported a 2 percent drop to $3.30 billion.
\nIn suit with Agility\u2019s net profit, and contrary to gross revenues, Agility reported its net income rose 4 percent, to $1.34 billion for the year. According to a company statement, \u201cthe improvement resulted from continued growth in contract logistics and better performance within the freight forwarding business, particularly ocean freight. Air freight volumes softened towards the end of 2015, but ocean freight volumes and yields improved, driven by better commercial discipline.\u201d
\nWhile admitting slower growth in emerging markets will continue to trend into 2016, due to Eurozone sluggishness, low oil prices and political instability, Agility\u2019s CEO, Tarek Sultan, was still bullish on future growth prospects. \u201cIn the medium- to longer term, we believe in our ability to grow our market share and footprint in emerging markets to serve growing consumer demand,\u201d he said. \u201cI am confident in our strategy and our ability to meet our 2020 EBITDA target of $800 million.\u201d
\nSource: aircargoworld<\/p>\n","protected":false},"excerpt":{"rendered":"
Agility reported its net income rose 4 percent, to $1.34 billion in 2015. Lower gross revenues for Agility, the Kuwait-based integrated logistics provider, did not put a damper on the company\u2019s 5 percent year-over-year jump in 2015 net profit, which grew to US$175 million. The group blamed \u201cchallenging market conditions and exposure to currency fluctuations\u201d[…]<\/a><\/p>\n","protected":false},"author":1,"featured_media":1307,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[49],"class_list":["post-1306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-airport-code"],"_links":{"self":[{"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/posts\/1306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/comments?post=1306"}],"version-history":[{"count":0,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/posts\/1306\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/media\/1307"}],"wp:attachment":[{"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/media?parent=1306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/categories?post=1306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/tags?post=1306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}