Kuwait's Agility , the logistics firm facing U.S. fraud charges, reported a 56 percent fall in first-quarter net profit, but expressed optimism about growth in its core business and customer base.
The net profit of the Gulf's biggest logistics provider by market value in the three months to March 31 fell to 7.7 million dinars ($27.93 million) from 17.59 million dinars a year earlier, Agility said in a statement on Sunday.
The company made a one-off gain of 7.9 million dinars in the quarter from a merger in Qatar, the statement said.
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