(MENAFN- Qatar News Agency) Kuwait August 10 (QNA) - Kuwaiti Agility company has realized a net profit of KD 12.9 million (USD 45.58) in the second quarter of 2014 marking a rise of 12% compared to the responding period in 2013 the company said on Saturday. Earnings-per-share hit 11.7 fils. Announcing the company's financial results for 2Q Agility said revenues for the three months stand at KD 341.7 million (USD 1.1 billion) a decrease of 4% compared to the same period last year. Earnings before interest taxes depreciation and amortization stand at KD 25.1 million a 6% increase compared to 2Q of 2013 it said in a press release. Agility's net profits for the first six months of the year reached KD 24.1 million a rise of about 11% compared to the first half of 2013 with earnings-per-share of 22 fils. "Overall Agility continues to improve financial performance and has managed to increase profits by 12% in the second quarter despite the continuous slowdown in the world economy and the decline of demand on logistics" (KUNA) quoted Agility's CEO Tarek Sultan as saying. Revenues for Agility Global Integrated Logistics (GIL) for the second quarter of 2014 was KD 270.7 million a decrease of 7% compared to the same period in 2013. The drop is attributable to hard market conditions that led to a decline in the freight business he added. Sultan noted that the net revenues of the GIL rose by 24% in the 2Q of 2014 compared to 21 the same period in 2013 thanks to the good performance of the storage services sector and the efforts that enabled Agility to obtain competitive prices for air freight at the time when the margin of revenues in maritime freight remains low. (QNA)
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