Kuwait's Agility, the largest Gulf Arab logistics company, reported a 5.5 per cent rise in second-quarter net profit on Thursday.

The firm, which has operations in more than 100 countries, said net profit in the three months to June 30 was KD13.5 million ($44.6 million), compared to KD12.8 million ($42.2 million) in the same period a year ago.

SICO Bahrain forecast the firm to make a quarterly profit of KD13.6 million ($44.9 million).
Second-quarter revenue fell 3.9 per cent to KD328.4 million ($1.08 billion) from KD341.7 million ($1.12 billion), as the company was hit by currency volatility.

"The global logistics market is a mixed bag in terms of growth, with continued sluggishness in China and Europe and ongoing pressure on rates," Tarek Sultan, Agility's chief executive said in the statement.

Agility shareholders in May approved the company's plans to issue long-term bonds. - Reuters