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Agility Q1 profit rises 30%

Agility Q1 profit rises 30%
Net profit stood at KWD 18.9 million ($62.81 million) in Q1-18
AGLTY
AGLTY
1.39% 946.00 13.00

Mubasher: Agility Public Warehousing, dual-listed on Boursa Kuwait and Dubai Financial Market (DFM), on Tuesday reported a 29.8% year-on-year rise in profits for the first quarter of 2018.

Net profit stood at KWD 18.9 million ($62.81 million) in the three-month period ended last March, versus KWD 14.56 million ($48.38 million) for Q1-17, according to a bourse filing.

The increase in quarterly profits was mainly driven by a growth in the company’s operating profits, Agility said.

Agility had previously posted a 16% surge in profits for the full-year 2017 to reach KWD 68.51 million, compared to KWD 59.05 million in profits for 2016.