Agility says wins contract appeal
Kuwait, April 5, 2012
Kuwaiti logistics company Agility will be able to go ahead with a contract to build and maintain a fish market thanks to a court appeal ruling, the stock exchange said on Thursday.
Shares in the company had been suspended ahead of the announcement. The bourse, which makes announcements on behalf of companies, said trading would begin again shortly. The shares closed at 410 fils ($1.47) on Wednesday according to Reuters data.
The government had originally cancelled the contract but Agility managed to appeal that decision in court, the statement said. It added that the outcome would not affect Agility's financial statements.
The company reported a 114-percent rise in fourth-quarter net profit compared with the same period in 2010, the firm said in a statement on Saturday. - Reuters