Thursday 21 November 2019
 
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GWC posts 10pc rise in Q3 net profit to $50m

DOHA, October 16, 2019

Qatar-based GWC, a leading logistics provider, has posted a net profit of QR182 million ($50 million), in the third quarter (Q3) of the year, representing a 10 per cent growth when compared to QR166 million during Q3 2018.

Gross revenue was QR915 million at the end of the third quarter of 2019. This corresponded with growth in earning per share for the company’s shareholders, which increased to QR0.31 at the end of the third quarter of 2019, an 11 per cent rise from QR0.28 during the same period in 2018.

“Our results are continuing the success story we’ve established over the last fifteen years, in pursuit of our long-term plans, and driven by the abilities and expertise we have gained. We are committed to offering solutions and infrastructure that make us the logistics provider of choice in the region, and ensuring our shareholders the best possible returns,” stated GWC chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al-Thani.

The company’s various divisions have all banded together to achieve these results, by diversifying revenue streams and seeking new business opportunities, cross-selling and creating end-to-end service packages, as well as by developing solutions and processes that increase both efficiency and sustainability in our company’s different practices.

“We maintain our commitment to setting a world-class standard in logistics operations across all our service offerings, particularly as we come closer to our united goal of delivering the best World Cup in the sport’s history. To that end, GWC has established the local knowledge necessary to enable such international sports events with success, providing a convenient ‘single point of contact’ for sporting and event logistics, ensuring the delivery of all event essentials on time, and with total visibility and control,” stated GWC Group CEO Ranjeev Menon.

GWC has worked closely on the biggest sports events held in Qatar since 2006, providing its clients unmatched local expertise, warehousing, distribution, and handling assets with the benefit of well-rounded international freight connection. These abilities are bolstered further by the company’s track record of financing, designing, developing, and operating of built-to-fit logistics hubs.

“Our track record of logistics infrastructure development and management is storied and fruitful, a fact that has been especially useful for our clients in the oil and gas sector. With unparalleled safety, scale and efficiency, GWC ensures that all of the diverse needs of the oil and gas industry are met with the highest grade of professionalism,” Menon added. – TradeArabia News Service




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