Agility Public Warehousing, dual-listed on Boursa Kuwait and the Dubai Financial Market (DFM), on Sunday reported a 12.3% year-on-year rise in profits for the third quarter of 2018.

Net profit totalled KWD 20 million ($66 million) in the three-month period ended September, versus KWD 17.8 million ($58.7 million) in Q3-17, according to a filing to Boursa Kuwait.

In the first nine months of 2018, profits rose by 19.7% to KWD 58.89 million from KWD 49.21 million in the same period a year earlier.

The company attributed the nine-month growth in profits to a 19.7% year-on-year increase in net operating profits to KWD 87.12 million.

Total operating revenue surged 12.7% to KWD 1.15 billion at the end of September, versus KWD 1.021 billion in the corresponding nine-month period of 2017.

Capital market analyst Ahmad Jassim Al Qamr previously told Mubasher that Agility was expected to post a 22% year-on-year increase in profits during the first nine months of 2018.

Al Qamr added at the time that the company was forecast to log KWD 60 million ($198.2 million) in profits for the nine-month period, compared to KWD 49.2 million ($162.5 million) in the corresponding period last year.

-Mubasher