Mubasher: Kuwait and Gulf Link Transport (KGL) on Sunday posted a 2.21% year-on-year profit drop in the third quarter of 2018, registering KWD 1.23 million ($4 million) from KWD 1.25 million ($4.1 million).
During the first nine months of 2018, KGL logged a profit of KWD 3.8 million, up 27.5% from KWD 3 million in the same period a year earlier.
The logistics and land transportation provider ascribed the profit hike to the remarkable progress in the industrial activity, according to a filing to Boursa Kuwait.
It is worth noting that KGL achieved a 48.6% year-on-year profit growth in the first six months of 2018, recording KWD 2.6 million compared to KWD 1.75 million.
By 09:44 am Kuwait time, KGL’s stock fell 1.02% to 97 fils.
