Mubasher: Agility Public Warehousing recorded an increase of 8.4% in profits during the third quarter of 2019 when compared to the same period last year.

Net profit grew to KWD 21.68 million ($71.51 million) in Q3-19 from KWD 20 million ($65.97 million) in Q3-18, according to a bourse disclosure on Thursday.

During the nine-month period this year, the Kuwaiti firm achieved KWD 62.57 million worth of profits that were 7.9% higher than KWD 58.89 million in the corresponding period in 2018.

The dually-listed company ascribed the growth in profits over the first nine months in 2019 to higher operating income by 9.8% to KWD 95.69 million from KWD 87.12 million in the same nine months last year.

Total assets by the end of the period amounted to KWD 1.99 billion, 10.5% larger than KWD 1.81 billion by the end of September 2018.

It is worth noting that during the second quarter of 2019, Agility posted a year-on-year increase of 8.1% to KWD 21.61 million from KWD 19.99 million in the second quarter of 2018.