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Kuwait’s Agility says Q2 net profit up 11%

Kuwait’s Agility says Q2 net profit up 11%

The firm’s net profit in the three months to June 30 was $50m

Kuwait’s Agility, one of the largest Gulf logistics companies, reported an 11 per cent rise in second-quarter net profit on Sunday.

The firm’s net profit in the three months to June 30 was KD15m ($50m), compared with KD14m in the same period a year earlier, it said in a bourse filing.

SICO Bahrain had forecast Agility would make a quarterly profit of KD13.7m.

Quarterly revenue was KD309m, down from KD328m a year earlier.

On June 23, Agility said it was in preliminary talks about potentially investing in construction firm Kharafi National, adding it was reviewing all possible investment opportunities in the Kuwaiti company.

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