Kuwait – Mubasher: Kuwait and Gulf Link Transport (KGL) posted a decline of 57.8% in profits during the third quarter of 2016 as compared to the same period a year ago.

Earnings amounted to approximately KWD 498,350 ($1.64 million) in Q3-16, compared with KWD 1.18 million ($3.88 million) in Q3-15, the company said in a bourse filing.

During the nine-month period of 2016, profits leaped by 2,358.3% to KWD 1.46 million as compared to about KWD 59,390 in the same period of 2015.

The growth in the industrial business of KGL has endorsed the nine-month-period financials.