Kuwait’s Agility to continue investing in both supply chain and technology, Chief Executive Officer Tarek Sultan says.
18 November 2021, 12:00 AM
30 November 2021, 12:00 AM
Kuwait’s Agility Public Warehousing Co. will continue investing in both supply chain and technology, and look at different strategic options for all its business segments, Chief Executive Officer Tarek Sultan said.
Agility, a leader in supply chain services, innovation and investment, today reported third quarter 2021 earnings of 440.34 fils per share on net profit of KD 926.9 million, an increase of 5,952.4% over the same period in 2020. EBIT increased 6.6% to KD 19.6 million, and revenue grew 27.7% to KD 124.5 million. Adjusted for revaluation impact of investments measured at fair value through profit and loss, net profits from continuing operations increased 17.1% to KD 12.7 million from same period in 2020.
“We’re going to continue investing in supply chain - but in our core businesses, industrial, real estate and different supply chain vehicles - but increasingly in technology where we’re really looking to grow our footprint, and get involved in successful businesses that could benefit from our global footprint,” he said in an interview. Moving forward, technology will be an “increasing theme for our shareholders, as well as ESG,” he said.
Agility is currently evaluating the best options for expanding its business, with next year being “a fair time to expect something,” Sultan said.