KUWAIT – April 1, 2013 – Agility (AGLTY), a leading global logistics provider, today announced its fourth quarter and full year financial results for 2012.
For the fourth quarter, the company reported a net profit of KD 9.6 million and earnings per share of 9.71 fils. This is an increase of 179% and 181% respectively compared to the fourth quarter of 2011. Fourth quarter revenue was KD 383.7 million, an increase of 9% compared to the fourth quarter of 2011.
For the full year ending December 31, 2012, net profits were KD 34.3 million, or 34.42 fils per share. This is an increase of 27% and 28% respectively over the full year of 2011. Revenue increased by 7% to KD 1.4 billion.
The Board of Directors met recently and proposed a dividend distribution of 30% cash and 5% bonus shares for fiscal year 2012.
The Board of Directors also approved a forward-looking minimum dividend policy recommendation of 30 fils per share cash distribution for the fiscal years 2013, 2014 and 2015. As with all such recommendations, this will be subject to the approval of the General Assembly of the Shareholders as well as the concerned authorities.
“We have worked hard in the past few years to refocus the company and outline a vision for the future, which is already reaping results,” said Tarek Sultan, Agility’s Chairman and Managing Director. “In 2012, we continued to improve profitability, invested strategically in the business and maintained a healthy balance sheet. All this is impressive in light of the fact that the global economy was – and continues to be – weak.”