Agility Q1 Revenue Down 21%
For the first quarter of 2011, the company posted a net profit of KD7.70m, compared to KD17.59m for the same period in 2010.
Operating profit for the first quarter of 2011 was KD1.68m, compared to KD18.95m for the same period in 2010. Operating profit stood at KD 1.67m for the first quarter of 2011.
Agility revenues for the full year of 2010 - reported in April 2011 - were KD1.6 billion, a decrease of 5.85 percent compared to KD1.7 billion in the same period in 2009.
Revenue in Agilityâ€™s core business, global integrated logistics, increased by 12.3 percent in first quarter of 2011 for the same period in 2010.
Agility's portfolio of businesses contributed KD39m to total revenue in first quarter of 2011. Excluding Agility Defense and Government Services, Agilityâ€™s portfolio of companies showed a 26 percent increase in revenues from the same period in 20l0.
Agility, also known as The Public Warehousing Company, is engaged, along with its subsidiaries, in the provision of global integrated logistics solutions.
Tarek Sultan, chairman and managing director of Agility, said: â€œAfter a year of adjustment in 2010, which included a transition away from government business, 2011 represents a new financial benchmark for Agility.
â€œOur commercial business is steadily growing. We are acquiring new customers, expanding our business with existing customers, and transforming our operating platform to execute more efficiently.â€
Will the company post positive revenue in Q2?
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