Agility Announces Financial Results for Q2 2012

Agility today announced its financial results for the second quarter of 2012. The company reported a net profit of KD 7.8 million for the quarter, and earnings per share (EPS) of 7.9 fils. Revenue and EBITDA were KD 348.8 million and KD 18.9 million, respectively.

“We started 2012 off on the right track, and our mid-year results show that both our internal transformation and business development efforts are paying off,” said Tarek Sultan, Agility’s Chairman and Managing Director. “EBITDA adjusted for one-off impacts shows a 63% improvement relative to the same period last year.”

“Although we feel the effects of the broader slowdown in the economy, we continue to improve our operational performance during these challenging times. We are making good progress in our efforts to transform our business through technology, improved financial discipline, and focus on under-performing entities. We have also seen strong sales growth in emerging and challenging environments. For example, our scope of work to support the world’s largest natural gas project in Western Australia has grown substantially and is estimated at A$232 million over the next two years,” Sultan added. Read more.