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FINANCIAL NEWS
Kuwait’s Agility posts USD40.3m profit in Q2
07 Aug 2013
(MENAFN) Kuwaiti logistics firm Agility posted a 49 percent increase in quarterly earnings on improved revenue from its businesses, KUNA reported.
The company said it made USD40.3 million net profit during the second quarter, up from USD26.9 million a year earlier.
Agility also reported a 26 percent increase in quarterly revenue to USD83 million compared to a year ago.
Income from Agility’s core Global Integrated Logistics (GIL) business, despite ongoing challenges in the global economy, were slightly higher than the same quarter a year earlier, the company said.
During the second quarter, Agility GIL was able to expand its operations by expanding business with existing customers and winning contracts with new customers.
Agility’s Infrastructure group contributed USD207.21 million to the total revenue in the quarter.
The real Estate business, the largest contributor among the Infrastructure group of companies, improved its revenues by 14 per cent relative to Q2 of 2012.
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