Mubasher: Kuwait and Gulf Link Transport (KGL) has achieved a leap of 1,045.9% in profits during the fourth quarter of 2017 compared to the same period in the previous year.

Earnings jumped to KWD 7.78 million ($25.82 million) in Q4-17 from about KWD 678,580 ($2.25 million) in Q4-16, according to a bourse statement on Thursday.

In fiscal year 2017, KGL reported a leap of 404.37% to KWD 10.79 million compared to KWD 2.14 million in FY16.

Gross operating revenue increased by 47.1% to KWD 64.81 million in FY17 from KWD 44.06 million in FY16.

The board members of KGL proposed a cash dividend of 5% or KWD 1.39 million, in addition to distributing 15% of the capital as bonus shares or 41.62 million shares.