DUBAI, Nov 23 (Reuters) - Kuwaiti logistic firm Agility
expects its business to rebound next year as more
units come back online after the pandemic and is in talks with
drugmakers about transporting COVID-19 vaccines, its vice
chairman told Reuters.
Tarek Sultan said the company was in a relatively good
position despite the impact of the pandemic, which has forced
some of its businesses such as airport services to temporarily
"We are very bullish looking into 2021. We believe that
there is going to be significant uptick in opportunity ... many
different sectors of the business will start to recover," Sultan
said in an interview conducted online on Monday.
The company saw its profit halve in the first nine months of
the year to 31.5 million dinar ($103 million), while revenue was
flat at 1.17 billion dinar.
Sultan said he expected Agility to be involved in
transporting vaccines but did not disclose which pharmaceutical
companies it was in talks with.
Dubai logistics firm Tristar, partly owned by Agility,
expects to make a decision on its listing by the second quarter
of 2021, he said, adding that it was getting the regulatory
requirements for a listing in the Middle East but could list
Tristar is considering an initial public offering in Dubai
after earlier looking at London, sources told Reuters in July.
"... (We will) ultimately make a decision that is best for
the stakeholders of Tristar," Sultan said.
($1 = 0.3056 Kuwaiti dinars)
(Reporting by Alexander Cornwell; Editing by Susan Fenton)