#Kuwait's Agility H1 profits jump 71.5% to $93.9mln

Kuwait's Agility H1 profits jump 71.5% to $93.9mln

Agility, an operator and long-term investor in supply chain services, infrastructure, and innovation, has reported first half 2022 earnings of 11.41 fils per share on a net profit of KD28.8 million ($93.94 million).

Profits from continuing operations, which exclude performance of the GIL business sold by Agility in 2021, increased 71.5% from KD16.8 million to KD28.8 million. EBITDA increased 21.5% to KD71 million, and revenue grew 22.9% to KD270.5 million.

For the second quarter, Agility reported earnings of 6.35 fils per share on a net profit of KD 16.1 million. Net profits from continuing operations increased 2% from the same period last year. EBITDA was KD37 million, a decline of 4.1%. Adjusted EBITDA, for non-recurring items in both quarters, showed an increase of 8.6%. Revenue grew 23.4% to KD138.4 million, the company said.