By: Mohamad Farouk
Mubasher: Kuwait and Gulf Link Transport (KGL) is expected to achieve a surge of 844% in profits to KWD 20.2 million in fiscal year 2017 compared to KWD 2.14 million in FY16, capital market analyst Ahmad Jasim Al Qamr told Mubasher on Sunday.
KGL is also forecast to distributed 10% bonus shares compared with last year’s distribution which was 5% bonus shares, the analyst added.
In the first nine months of 2017, KGL reported a net profit of KWD 3.01 million compared to KWD 1.46 million in FY16.
KGL’s stock levelled up 19.9% to 75.4 fils on Sunday.