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Qatar’s leading logistics provider GWC has posted a half yearly net profit of QR101.3mn, up 15% on the same period in 2015.
GWC had earned a net profit of QR87.7mn in the first half of 2015.
The company’s revenue streams had an equally consistent rise despite challenging market conditions, with total revenues peaking at QR430.1mn in June, an 8% increase from QR397.9mn in the first half of 2015.
The earnings per share (EPS) registered for the period was QR1.76 as compared to QR1.7 during the same period of 2015.
The company’s total assets increased to QR3.29bn by end-June, compared with QR2.98bn in end-December 2015, representing a 11% growth.
GWC chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor al-Thani said, “By exploring new markets and maintaining our commitment to the tenets of the Qatar National Vision 2030, we continue to achieve our purpose and remain the provider of choice for logistics services in Qatar, and thereby ensuring our shareholders the best possible returns.”
On the development side, the GWC Bu Sulba Warehousing Park has completed 65% of construction at the site, keeping it “on track” for launch on time, with a significant number of clients already signed on for warehousing space and services.
Meanwhile, the company’s many divisions showed strong contributions towards client acquisition and project development.
GWC Contract Logistics signed on a number of important contracts in new consumer sectors, while GWC Forwarding performed a number of important charters for major clients in the oil and gas sector.
GWC Records, Transport, and Fine Art handling also secured major contracts, reaffirming the company’s position as the provider of choice for logistics and supply chain solutions.
For its “continued commitment to excellence in performance and service provision”, GWC won the ‘Supply Chain and Transport’ Awards (SCATA) award for ‘Leading Logistics Manager of the Year 2016’.
This award and accolade came after the company won the ‘Frost and Sullivan GIL Global Best Practices Award’ for ‘Leading Domestic Logistics Service Provider of the Year 2016’ earlier in the year.
GWC is the leading provider of logistics and supply chain solutions in Qatar. Established as a Qatari shareholding company in 2004, the company offers high-quality warehousing and distribution services, hazmat logistics, freight forwarding, project logistics, sports and event logistics, equestrian logistics, fine art logistics, supply chain consulting, transportation management, records management, and door-to-door moving and relocation services.
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