Kuwait-based logistics firm Agility on Monday announced that net profit rose by 26 percent in the third quarter of 2013 compared to the same period last year.
The company said it made KD12.1m for the three-month period while also reporting that net profit for the first nine months of the year rose by 40 percent.
In a statement, Agility said revenue stood at KD326.7m for Q3, a 10 percent decrease.
Tarek Sultan, chairman and managing director of Agility, said: “We continue to make steady progress in improving the bottom line, by controlling costs and improving productivity across our business.
“That said, the slowdown in the global economy impacted our revenues however, yet we were still able to report better on the net revenues level. Our infrastructure group is showing good progress and we are excited about our most recent wins.”
He added that the business may continue to be impacted by world trade flows connected to global economic growth which he said “continues to be sluggish”.
Last week, Agility said its fuel logistics unit Tristar Transport had signed a $200 million charter contract with Royal Dutch Shell for six new tankers.
The seven-year deal has an option for an additional three years, Agility said in a filing to the Dubai stock exchange on Thursday.
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