Qatar-based Gulf Warehousing Company (GWC), a leading logistics provider, has reported a 30 per cent increase in net profit during the first half of 2015, in comparison to the same period last year.

The company reported QR87.7 million ($24.08 million) in net profit, as compared to QR67.6 million ($18.59 million) by the end of June 2014, said a statement from GWC.

This robust growth was mirrored in the company’s revenue streams, with total revenues peaking at QR405.7 million ($111.4 million) during the first half of 2015, a 21.3 per cent increase from QR334.6 million ($91.89 million) for same period in 2014, it said.

The earnings per share rose to QR1.84 ($0.51) during this period, an increase of 30 per cent compared with the 2014.

The company said that the levelling and compaction at the GWC Bu Sulba Logistics Park has also reached its final stages, with construction on the site set to begin by mid-August.

The logistics park will boast the latest in warehouse and distribution management systems, technology, and facilities optimised for small and medium enterprises and start-ups in the State of Qatar.

The Ras Laffan logistics hub expansions continues on schedule, with construction on the 15,000 sq m warehouse with specialised Hazmat logistics specifications and capabilities is half way complete. The remaining work is expected to be completed within the next half of 2015, and to be made operational by Q1 2016.

Additionally, the second half of 2015 saw the addition of courier services to the company’s service portfolio, as GWC signed an agreement to become the Authorised Service Contractor for UPS (ASC) in the State of Qatar, said the statement.

GWC began offering the range of UPS services after the inauguration of its new flagship outlet located on D-Ring Road last June 2015. Express shops were also opened in the Qatar Financial Centre in West Bay, Street 15 of the Industrial Area, as well as in GWC facilities in Ras Laffan and Messaieed, it said.

Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al Thani, the chairman, said: “The road to success is paved by strong values, and by fostering the drive and tenacity to innovate and deliver, we have become the logistics provider of choice in the State of Qatar.”

“By providing the most comprehensive solutions and by constantly developing dynamic and flexible infrastructure, we are able to remain true to our purpose and ensure the best possible returns to our shareholders,” he added. – TradeArabia News Service