Kuwaiti "Agiliti" profits fall by 38% despite the growth of revenue

The Kuwaiti group “Agiliti Public Stores” recorded a decrease in the net profits during the first quarter of the year, as it recorded 11.6 million dinars. According to the announcement of the company to the Kuwaiti Stock Exchange, the first quarter of the year cannot be compared to its counterpart from the previous year, due to the distribution of good profits to shareholders represented by 49% of the shares of a subsidiary company recorded in the Abu Dhabi Securities market, which ‘Aguilletti Global BlC’. In March 2024, the group agreed to include ‘Agiliti Global’ in possession of the Abu Dhabi Stock Exchange, by distributing the profits in a small profits to shareholders who are in 49% of the shares of ‘Agili Global’ equivalent to 800 million dinars, so that each shareholder in the parental business of the “Aguillet” for the “aguillet” capital is owned. The company, which is listed on the Abu Dhabi Stock Exchange, earned profits of approximately $ 127.5 million, an increase of 153% year -on -year. The gains of the Kuwaiti company, also listed in the Dubai market, came despite the increase in operating income during the first quarter to 389 million Dinars, from 336 million dinars during the first three months of last year. The influence of ‘Corik Telikum’ disclosure ‘agiliti’ today also indicated that the group’s investment in the company ‘Corik Telecom’, based in the Iraq Kurdistan region, and a number of loans, and it is not certain that these funds are restored, according to the financial observer. However, “Aguilletti” promised to follow up the cases and arbitration laws of law that she established to acquire her rights, pointing out that she had already obtained several decisions in her favor. It is noteworthy that the International Arbitration Court, which belongs to the International Chamber of Commerce, ruled last September to force the Iraqi company “Cork Telecom” to pay $ 1.174 billion in favor of “Telecom”, which is affiliated with the Kuwaiti “public stores”. Also read: The President of “Aguilletti”: The Trade War is a historical opportunity for the growth of our business that “aguilletti” intends to expand its investments in Saudi Arabia during the current year, and its CEO and Vice Chairman, Tariq Sultan, said in a previous interview with “Al Sharq” to expand his business, as part of the preparation of the preparation of foreign investors, to expand the business to expand its business, as part of the preparation of the preparation of the foreign investment, to expand the business infrastructure of investors falling on the shoulder. Agiliti. Agiliti works in five sectors through 5 companies, including logistics services, storage, aviation services and oil -derived, in addition to investing in the field of technology.