Industry, Logistics & Shipping

Gulf Warehousing Company's H1 net profit up 10pc

Gulf Warehousing Company (GWC), a leading logistics provider based in Qatar, has registered a net profit of QR122.2 million ($33.56 million) for the first six months, up 10.35 per cent over the last year's figure of QR110.7 million ($30.41 million).

Announcing the results, GWC said the gross revenue hit QR599.6 million ($164.69 million) at the end of June, while the company’s earnings per share too increased to QR0.21 ($0.058) in the first six months of 2019, registering a 10.53 per cent rise from 0.19 during the same period in 2018.

The company’s various departments continue to maintain optimal operations across the board and leverage the strength of its international freight network, in addition to providing express courier services as the authorised service contractor in Qatar for UPS, it added.

Chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al Thani said: "For over 15 years, our company has developed infrastructure and created systems that continue to work in building the nation’s logistical infrastructure.""

“As we progress, we will continue to lay foundations and develop strategies in line with the country’s vision and ambitions, while ensuring our shareholders the best possible returns,” he added.

The company is aided by increased activity for its freight solutions and contract logistics services offered at the Logistics Village Qatar (LVQ), the GWC Bu Sulba Warehousing Park, and the Bu Fasseela Warehousing Park, all forming part of its 3 million sq m of logistics infrastructure in the nation, it added.-TradeArabia News Service