Revenues grow 26.6% during this period to US$ 373.1 mn
Agility recently reported second quarter 2021 net profit of KD 38.6mn (US$ 128.35mn), an increase of 503.7% over the same period in 2020. EBIT increased 202.6% to KD 29.6mn (US$ 98.43mn), and revenue grew 26.6% to KD 112.2mn (US$ 373.1mn).
All of Agility’s largest businesses reported Q2 growth and profitability levels that were at or above pre-pandemic levels in 2019. “We’re proud of how we’ve been able to respond and recover from the challenges of the pandemic,” commented Tarek Sultan, Vice Chairman and CEO, Agility.
Agility’s Infrastructure group of companies remains the main contributor to Agility’s profitability and has historically generated around 80% of Agility’s EBIT. Each entity within this group is pursuing its own growth strategy.
Tristar, an Agility Infrastructure Group company posted a 12.5% increase in revenue growth for Q2-2021. This performance reflects improving market conditions and Tristar’s resilient and diversified business model. Tristar has a strong pipeline of growth opportunities across its business segments and is expected to deliver attractive returns, the press communiqué concluded.