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Agility air cargo beats market, but net revenue falls 24.9pc
KUWAITI forwarding major Agility's air freight tonnage grew 14.7 per cent in the second quarter, reported London's Air Cargo News.
The air cargo performance contributed to a 9.6 per cent increase in revenue for Agility Global Integrated Logistics (GIL), the company's core logistics business, in the quarter, to KWD255.2 million (US$843.8 million).
Ocean container volume grew 12.9 per cent, again above the market average, said the company.
Contract logistics revenue also grew, particularly in the Middle East and Asia Pacific, due to a combination of new and existing warehousing facilities.
Revenue in the quarter was flat compared to the same period a year ago. Net revenue margins contracted 24.9 per cent year on year.
Said Agility vice-chairman and CEO Tare Sultan: "Revenue in our logistics business is growing because air and ocean volumes are increasing and contract logistics revenue is expanding, but rate pressure continues to affect profitability."
The air cargo performance contributed to a 9.6 per cent increase in revenue for Agility Global Integrated Logistics (GIL), the company's core logistics business, in the quarter, to KWD255.2 million (US$843.8 million).
Ocean container volume grew 12.9 per cent, again above the market average, said the company.
Contract logistics revenue also grew, particularly in the Middle East and Asia Pacific, due to a combination of new and existing warehousing facilities.
Revenue in the quarter was flat compared to the same period a year ago. Net revenue margins contracted 24.9 per cent year on year.
Said Agility vice-chairman and CEO Tare Sultan: "Revenue in our logistics business is growing because air and ocean volumes are increasing and contract logistics revenue is expanding, but rate pressure continues to affect profitability."
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