Tawasul
Mubasher TV
Contact Us Advertising   العربية

KGL Logistics Q2 profits slip 23%

KGL Logistics Q2 profits slip 23%
Profits stood at KWD 1.43 million ($4.71 million) in Q2-19
LOGISTICS
LOGISTICS
0.68% 29.40 0.20

Mubasher: KGL Logistics, listed on Boursa Kuwait, has reported a 22.7% year-on-year decline in profits for the second quarter of 2019.

Profits stood at KWD 1.43 million ($4.71 million) in Q2-19, versus KWD 1.85 million ($6.09 million) during Q2-18, according to a bourse filing on Monday.

In the first half of 2019, the company has generated a profit of KWS 3.11 million, down 20.7% from KWD 3.92 million in H1-18.

The decrease in profits was due to a reduction in industrial activities, the company said.

In Q1-19, KGL Logistics had achieved profits of KWD 1.68 million, down 18.6% year-on-year from KWD 2.07 million in Q1-18.