17 Apr 2018 - 0:00
GWC net profit jumps by 12% to QR56.7m in Q1
DOHA: GWC, Qatar’s leading logistics provider, concluded its first quarter of 2018 by recording a net profit of QR56.7m, a 12 percent jump as compared to QR50.5m posted by the end of the same period in 2017.
The company’s revenue streams gained QR311.6m, a 40 percent growth, as compared with QR222.7m in the first quarter of 2017. Earnings per share also increased to QR0.97 by 12 percent from QR 0.86.
“Our commitment to the diversification of the economy and the objectives of the Qatar National Vision 2030 has served us well, making us the largest provider of Qatar’s private logistics infrastructure,” stated GWC Chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al Thani (pictured).
“With its proven foundations of infrastructure and innovative systems and solutions, the company has stood by the nation through the extraordinary circumstances it experienced lately, realising our purpose to remain the provider of choice for logistics services in Qatar, and thereby ensuring our shareholders the best possible returns.”
GWC achieved this growth due to increasing operational and financial efficiencies, as well as expanding on its existing contract base. The company also completed key Fine Art logistics projects within the State of Qatar, including a major operation at the national airport.
Further proving its own capabilities and those of the nation, the company was a leading participant in the country’s inaugural “Qatar Self Sufficiency Exhibition”, a forward-thinking exhibition bringing together influential leaders and decision makers to demonstrate the innovations and solutions that will serve the needs of the nation.
The company’s commitment to excellence was recognized through several honours, recognition by QAFAC towards achieving 10 million incident free hours at their facility; and from the Qatar Stock Exchange (QSE) that commended the company’s websites for the astounding development that it had achieved during the Third Annual Investor Relations Excellence Program Awards Ceremony.
The GWC Chairman said: “The company will continue to rely on the strength and stability made possible by our well-established infrastructure and by our highly skilled and loyal employee base as we set our strategies for the future.”