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Mon 28 Mar 2016 09:24 AM

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Kuwait's Agility Q4 net up 5%

One of the Gulf’s largest logistics companies recorded $47.4 million profit in the three months to Dec. 31

Kuwait's Agility Q4 net up 5%

Kuwait's Agility, one of the largest Gulf logistics companies, has reported a 5 percent rise in fourth-quarter net profit.

The firm's profit in the three months to Dec. 31 was 14.31 million dinars ($47.4 million) compared with 13.69 million dinars in the same period a year earlier.

SICO Bahrain had forecast Agility would make a quarterly profit of 13 million dinars.

Net profit for all of last year also increased 5 percent to 53.38 million dinars, the statement added.

Agility said its board was proposing to pay shareholders a cash dividend of 0.030 dinar a share for 2015. The company paid out a cash dividend of 0.035 dinar a share for 2014 plus five free shares for every 100 held.

The company said on that it would pursue a treasury share buy-back to repurchase up to 10 percent of its share capital in compliance with regulatory rules. The mechanism, price and quantity of the buy-back would be announced at a later time.

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