Kuwait’s Agility reports KD 28.8 mln net profit H1, 2022

– Agility — an operator and long-term investor in supply chain services, infrastructure, and innovation – reported on Saturday the first half its 2022 earnings at 11.41 fils per share on a net profit of KD 28.8 million (around USD 93.9 million).

According to an Agility press release, profits from continuing operations, which exclude performance of the GIL business sold by Agility in 2021, increased 71.5 percent from KD 16.8 million to KD 28.8 million. EBITDA increased 21.5 percent to KD 71 million (USD 231.5 million), and revenue grew 22.9 percent to KD 270.5 million (around USD 882 million).

For the second quarter, Agility reported earnings of 6.35 fils per share on a net profit of KD 16.1 million (USD 52.5 million). Net profits from continuing operations increased two percent from the same period last year. EBITDA was KD 37 million, a decline of 4.1 percent.

Revenue grew by 23.4 percent to KD 138.4 million (around USD 451.2 million) in the second quarter of 2022 when compared to the same period in 2021.

Agility was founded in 1979 and it was listed in the Kuwaiti stock market in 1984.

Source: Kuwait News Agency