Agility Global PLC Reports Q3 2024 Net Profit of $37 Million
Date
11/12/2024 8:39:58 AM
(MENAFN- Four) ABU DHABI – November 12, 2024 – Agility Global PLC, a multi-business owner and operator and long-term investor in global and regional businesses, today reported Q3 2024 earnings of $37.1 million, or 0.36 cents per share. EBIT grew 36% to $104.6 million, and revenue increased 16% to $1.2 billion. (Note that figures for the comparable period are carved-out financials).
For the first nine months of 2024, earnings stood at $97.4 million, or 1.14 cents per share. EBIT grew 46% to $292.7 million, and revenue increased 13% to $3.3 billion.
“Agility Global maintains the healthy growth momentum seen since the beginning of the year. Our controlled businesses delivered double-digit EBIT growth. That growth was driven by the main three businesses: Menzies, Tristar and Agility Logistics Parks (ALP). Menzies saw growth in new operations in Europe and Asia, Tristar has grown in fuel business and its road and transport segment, and ALP grew in Saudi Arabia; and is further expanding in the Kingdom,” said Agility Global Chairman Tarek Sultan. “On the investment side, the share price of DSV, the company’s largest investment, has been positively impacted by DSV’s acquisition of Schenker. When the deal closes, expected in 2025, DSV will become the world’s largest freight forwarder. Today, Agility is the largest investor in DSV. The increase in DSV’s share price has resulted in an increase in the carrying value of our investment. Due to the accounting treatment, this increase will be reflected through equity and not through profit-and-loss statement.”
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