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Agility today announced its first quarter results and extremely ambitious plans to more than double its EBITDA by 2020, according to CEO Tarek Sultan.
Agility’s first-quarter resulted in a net profit of KD13.1m ($43.4m), a 10.9% rise, on revenues which were down 6.1%, to KD298.8m ($991m), a decline “related to the slowing down of global trade”. EBITDA rose 12.1% to KD26.2m ($87m).
But, said Mr Sultan, “the longer-term target is to reach an EBITDA of $800m by 2020. We have a demanding road ahead to achieve ...
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Comment on this article
Jim Panse
May 10, 2016 at 6:34 amI suggest you review the headline and first paragraph of your article again.
A targeted EBIDTA increase from around USD 90 million in a single quarter to USD 800 million in a full year (2020) is neither 800% nor “nearly tenfold”.
Alex Lennane
May 10, 2016 at 8:48 amIt is now corrected. And I am so embarrassed! I knew something was wrong. Thank you very much for pointing it out.