Company holds AGM and EGM for 2018 financial year

KUWAIT: Agility, a leading global logistics provider, held yesterday its Annual Ordinary and Extraordinary General Assembly Meeting at the Radisson Blu Hotel, with a quorum of 76 percent.

The company's shareholders approved all the items on the agenda, including Agility's audited financial results, and endorsed the Board of Directors' recommendation for a cash dividend of 15 percent (15 fils for every share) and a bonus share distribution of 15 percent (15 shares for every 100 shares). These dividends are entitled for the shareholders who will be registered on the company's shareholders' record on the settlement date 29 April 2019. Dividends will be distributed on 1 May 2019.The Annual Ordinary General Assembly also elected new board of directors for the coming three years.


KUWAIT: Agility holds its Annual Ordinary and Extraordinary General Assembly Meeting at the Radisson Blu Hotel yesterday

New board members are as follows:

1- Public Institution for Social Security

2- National Real Estate Company

3- Henadi Anwar Essa Al-Saleh

4- Tarek Abdulaziz Sultan Al-Essa

5- Naser Mohammed Fahed Al-Rashed

6- Faisal Jameel Sultan Al-Essa

7- Sultan Anwar Sultan Al-Essa

In 2018, Agility reported a net profit of KD 81.1 million, or 56.06 fils per share, an increase of 18.4 percent from 2017. Revenue for the year reached KD 1,550.2 million, and EBITDA was KD 154.8 million, increases of 10.2 percent and 14.5 percent, respectively. Cash flow from operations has been healthy and growing, while free cash flow has been limited as a result of capital expenditure that led to increased borrowing to fund strategic investments.

"Agility continues to invest in its future by building more than 1 million sqm of new warehousing and industrial facilities across the Middle East and Africa; building, through one its subsidiaries, the $1.2 billion Reem Mall mega project in Abu Dhabi; and investing more than $100 million in Shipa, its digital logistics platform," said Agility Vice Chairman and CEO Tarek Sultan.

"As always, we thank our shareholders, customers, employees, and partners for their trust and support in Agility. We look forward to an even better 2019," Sultan said.