Mubasher: KGL Logistics registered a decrease of 11.4% in profits during the second quarter of 2018 compared to the same period a year ago.
Earnings shrank to KWD 1.86 million ($6.15 million) in Q2-18 from KWD 2.1 million ($6.95 million) in Q2-17, according to a bourse statement on Thursday.
In the first half of 2018, KGL Logistics posted a drop of 3.2% in profits to KWD 3.92 million from KWD 4.05 million in the first six months of 2017.
KGL Logistics clarified that the fall in H1 profits is attributed to lower industrial activity.
It is worth noting that KGL Logistics’ profits increased by 6.2% to KWD 2.07 million during the three-month period ended last March, compared to KWD 1.95 million in Q1-17.
