Mubasher: Agility Public Warehousing (Agility) on Wednesday posted a 22.5% year-on-year hike in net profits for the fourth quarter of 2017.

The Kuwait-based firm's net profits amounted to KWD 19.29 million ($64.5 million) in Q4-17 compared to KWD 15.75 million ($52.7 milion) in the same period a year earlier, according to the company’s statement to Boursa Kuwait.

For the full year 2017, Agility's profits surged 16% to KWD 68.51 million versus KWD 59.05 million in the prior year.

The dual-listed company on Boursa Kuwait and the Dubai Financial Market (DFM) attributed the increase in profits to a rise in its operating revenues, according to the company's statement.

Moreover, Agility's board recommended distributing a cash dividend of 15 fils per share, which makes up 15% of the total capital, in addition to distributing 15% bonus shares in ratio15:100.