HomeLogisticsKuwait Agility’s Q2 net profit plunges to $52 mn
By Economy Middle East
August 12, 2022 3:08 pm

Kuwait Agility’s Q2 net profit plunges to $52 mn

Drop attributed to inclusion of results of discontinued operations

Kuwait-based logistics and warehouse provider Agility said its Q2 2022 net profit attributable to shareholders more than halved to 16.05 million Kuwaiti dinars ($52.3 million) versus 38.57 million dinars in the year-ago period.

Profits fell 44 percent in the first half of this year, to 28.8 million dinars.

Net operating profit was 6 percent lower year-on-year at 27.73 million dinars.

The company, listed both on the Dubai Financial Market and the Boursa Kuwait, said the drop in profit came from “the inclusion of the results of discontinued operations in the comparative period”.

It’s worth noting that Agility sold the GIL logistics sector in August 2021.