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Agility Q4 net up 5pc; plans buy-back

Kuwait Business

Kuwait's Agility, one of the largest Gulf logistics companies, reported a 5 percent rise in fourth-quarter net profit on Sunday.

The firm's profit in the three months to December 31 was KD14.31 million ($47.4 million) compared with KD13.69 million in the same period a year earlier.

SICO Bahrain had forecast Agility would make a quarterly profit of KD13 million.

Net profit for all of last year also increased 5 percent to KD53.38 million, the statement added.

Agility said its board was proposing to pay shareholders a cash dividend of KD0.030 a share for 2015. The company paid out a cash dividend of KD0.035 a share for 2014 plus five free shares for every 100 held.

The company said on Sunay it would pursue a treasury share buy-back to repurchase up to 10 percent of its share capital in compliance with regulatory rules. The mechanism, price and quantity of the buy-back would be announced at a later time. - Reuters

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