Mubasher: KGL Logistics achieved a revenue of KWD 40 million in fiscal year 2017, while its net income registered KWD 5.9 million, chairman Jaffar Mohamed Haji said, Al Qabas newspaper reported.
The company’s assets increased by 5.8% to reach KWD 137.3 million in FY17 compared to KWD 129.8 million in the previous fiscal year, the chairman added.
Shareholders’ equity rights grew 7.1% to KWD 96.4 million in FY17 from KWD 90 million in FY16.
KGL Logistics intends to continue with its expansion plans in 2018 whether locally or regionally in the GCC by working on increasing and developing its storage spaces in addition to providing the latest technology methods and tools to maintain the company’s sustainable development, the chairman said, according to Al Qabas.
The current strategy of the Boursa Kuwait-listed company focuses on entering developing markets, the top official noted, highlighting that this strategy has already been effective by building logistics storage areas in Saudi Arabia.
