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FINANCIAL NEWS
Kuwaiti Agility to spend USD100m on expansion plans in 2015
20 Feb 2015
(MENAFN) Kuwaiti logistics firm Agility is set to spend USD100 million on expansion plans in 2015 and eyes Africa to be the main target of its investment, Arabian Business reported.
Agility logged third quarter revenue of USD1.14 billion and net profit of USD44.04 million. The logistics firm is yet to announce its fourth quarter figures.
The number set to be spent on the expansion plans in 2015 is entirely based on the company’s organic growth and it is in line with what the firm has spent in 2014, Agility’s chief executive said.
“Africa is a growing market and it’s one of our last frontiers – we’ve invested but not as much as we would have liked,” the chief executive added.
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