Infrastructure earnings offset declining logistics revenues at Agility

Kuwait-based freight forwarder Agility reported a net profit of US$51.59 million in its third quarter financial results for 2016, an increase of 11 percent over Q3 2015. Third-quarter EBITDA, meanwhile, rose 19 percent, year-over-year, to $94.97 million, despite revenues falling 7 percent, y-o-y, to $1.03 billion.

Logistics revenues declined 8 percent, y-o-y, to $751.4 million in Q3 2016. In airfreight, the Kuwaiti forwarder said that business “grew considerably” in terms of volume, but cited...

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