Agility’s profits rise 28.7% in the first quarter of 2021

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Kuwait – Mubasher: Agility Public Warehousing Company announced that it achieved a net profit of 12.6 million dinars (41.7 million US dollars) in the first quarter of this year, an increase of 28.7% compared to the same period in 2020.

Vice Chairman and CEO of the company, Tariq Sultan, said in a press statement, today, Sunday, that the earnings per share amounted to 6.01 fils per share in the first quarter of this year, compared to 4.67 fils per share for the same period last year.

Sultan added that earnings before interest, taxes, depreciation and amortization amounted to 26.9 million dinars ($ 89.1 million) in the first quarter of 2021, an increase of 31% compared to 2020.

He pointed out that the company’s revenues amounted to 485.5 million dinars (1.6 billion dollars) in the first quarter of this year, an increase of 28.6%, compared to the same period last year.

He explained that the Board of Directors agreed to adopt a recommendation for a future cash dividend distribution policy that provides for the distribution of 20 fils per share as a minimum for the next three years, and may include a program to purchase treasury shares within the legally permissible limits.

And that the company started the year 2021 well, as the integrated global logistics services performed well, pointing out that the Agility infrastructure companies generally showed strong signs of recovery from the repercussions of the Corona virus.

Regarding the deal with (DSV Panalpina) in which DSV acquires the logistics business of Agility, Sultan said that Agility will continue to keep its operating assets that generate the bulk of its profits.

And the Agility Public Warehousing Company was declared public recently Recommendation of the Board of Directors to distribute cash dividends for the year 2020By 10 percent of the nominal value of the share, by 10 fils per share, with a total value of 19.135 million dinars.


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