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Mon 8 Aug 2016 09:08 AM

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Kuwait's Agility reports 11% Q2 net profits rise

Logistics company reveals $50 million earnings in bourse filing

Kuwait's Agility reports 11% Q2 net profits rise

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

The firm's net profit in the three months to June 30 was $50 million (15 million dinars), compared with 14 million dinars in the same period a year earlier, it said in a bourse filing.

SICO Bahrain had forecast Agility would make a quarterly profit of 13.7 million dinars.

Quarterly revenue was 309 million dinars, down from 328 million dinars 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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