Agility saw a 46-percent, year-over-year jump in profit to KD 10.1 million ($35.6 million) and a 10-percent revenue growth to KD 352.6 million ($1.24 billion) during the first quarter.
Before-tax earnings were up 36 percent.
Revenue for the company’s global logistics arm ticked up 7 percent due to new customers like Shell, which recently signed a three-year, $80 million contract for freight forwarding services, and Egyptian appliance provider Universal. Officials commented the logistics offshoot hasn’t reached its full potential yet, but in three to five years, they expect to be operating extremely efficiently. Financial discipline and the increased use of technology will help achieve that goal, officials said.
The company’s infrastructure segment saw revenues shoot up 20 percent, year over year. The real estate division was the most profitable in the first quarter, experiencing a 14-percent growth spurt.
“We are pleased to report that we are continuing on a healthy growth trajectory,” Agility’s Tarek Sultan said in a statement. “2013 has started off on the right track, and we are making progress against our goals in both the core commercial business and our Infrastructure group of companies.” - Jon Ross