Kuwait – Mubasher: KGL Logistics posted a decline of 2.1% in profits during the third quarter this year as compared to the corresponding period in the previous year.
Earnings amounted to KWD 1.87 million ($6.14 million) in Q3-16 when compared to KWD 1.91 million ($6.27 million) in Q3-15, the company said in a bourse filing issued on Wednesday.
During the first nine months of 2016, profits grew by 4.1% to KWD 5.63 million as compared to KWD 5.41 million in the same period a year ago.
The increase in profits during the nine-month period resulted from a growth in the industrial business, KGL Logistics said.
On the stock level, KGL Logistics started Wednesday’s session higher by 2.67% to 77 fils after 45,000 shares at a value of nearly KWD 3,500.
