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Kuwait: the gulf
Agility reported net income of 21.6 million KWD (12.99 wires per share) for the second quarter of 2019, up 8.1% from the same period last year. Revenue of 396.3 million KD in the second quarter and EBITDA of 48.6 million KD, an increase of 3.2%
And 31.2%, respectively.
The company posted a net profit of 41.9 million dinars in the first half, up 7.7 percent to 25.18 per share. EBITDA for the first half of the year amounted to 95 million Kuwaiti dinars, an increase of 27%, and the turnover to 775 million Japanese dinars, up 2.5%.
"We recorded good results in the second quarter, despite the challenging business environment in which we operate," said Tarek Sultan, vice chairman and chief executive officer of Agility. Logistics has performed very well and is continuing to implement its strategy to increase operational efficiency. Agility Infrastructure companies have also performed well and are moving ahead with their own initiatives as planned.
Total revenues in the second quarter decreased by 2.6% to KWD 281.9 million, mainly due to exchange rate fluctuations, which, if excluded, were logistic revenues up 1% . Net revenues amounted to 69.4 million KD, an increase of 4%, mainly due to the improved performance of the shipping and warehousing services.
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