Skip to content Skip to Search
Skip navigation

Earnings at Kuwait’s Agility rise 22% to $61m in 2024

Agility has developed more than 1 million sq m of land, warehousing and logistics infrastructure in Saudi Arabia Agility/X
Agility has developed more than 1 million sq m of land, warehousing and logistics infrastructure in Saudi Arabia

Kuwait-based logistics specialist Agility said first-quarter 2024 earnings rose 22 percent year on year to KD18.7 million ($61 million)

Revenue increased nearly 5 percent year on year to KD336 million, the company said in a statement published on Boursa Kuwait.

The company reported an operating cash flow of KD26 million for the first quarter. Assets stood at nearly KD4 billion.

Agility Global, a 51 percent-owned subsidiary, was listed on the Abu Dhabi Securities Exchange this month.

Tarek Sultan, vice chairman and CEO of Agility, said the listing of Agility Global will enable the company to access additional capital markets to drive further growth. 

“Each of Agility’s subsidiaries will be pursuing different road maps to invest and grow further,” he added.

Latest articles

More than 24 million people visited the World Expo event at Expo City Dubai between October 2021 and March 2022

Construction begins at Expo City Dubai site

Construction has begun on the first residential properties at Expo City Dubai, part of a mixed-use master plan to repurpose the legacy site after the world fair came to a close two years ago. Master developer Expo City Dubai announced last week that it has awarded four key contracts for its Mangrove Residences. UAE-based USF […]

Saudi housing costs rose nearly 9% year on year in May

Saudi housing costs rise but inflation remains steady

Housing costs in Saudi Arabia rose nearly 9 percent year on year in May, but it was not enough to push overall inflation in the kingdom over 2 percent. The latest data from the General Authority for Statistics showed the annual inflation rate in Saudi Arabia was 1.6 percent in May, having remained at this […]

OTB Group has a presence in Dubai with its Maison Margiela store in the Dubai Mall

Chalhoub Group in venture with Italian luxury brand

Luxury distributor Chalhoub Group has entered into a joint venture with Italian fashion conglomerate OTB Group to expand the brand’s footprint in the Gulf. OTB (which stands for Only The Brave) owns the Diesel, Jil Sander, Maison Margiela, Marni and Viktor&Rolf brands, the Staff International and Brave Kid companies, and holds a stake in the […]

Arid conditions brought about by the drought in Morocco are affecting the cost of sheep

Drought pushes up sheep price for Eid in Morocco

The price for a sheep in Morocco for the annual sacrifice at Eid al-Adha has increased on average at 10 times the 2.2 percent rate of inflation. A medium-sized female sheep costs MAD4000 ($400) as opposed to MAD3000 last year. This puts it out of range for many families in the country where a high […]