Qatar-based Gulf Warehousing Company said it has registered a strong 40 per cent increase in its net profit for the first quarter compared to the previous year, thus giving a bullish start to 2015.

Qatar-based Gulf Warehousing Company said it has had a bullish start to 2015, with a strong 40 per cent increase in net profits in the first quarter which hit QR40 million ($11 million) compared to QR28.9 million ($7.68 million) the previous year.

The strong push forward was reflected in the company’s revenue streams, with its total peaking at QR196 million, up 28 per cent over QR152.9 million during the same period last year.

The earnings per share  rose to QR0.85 during this period, marking an increase of 39 per cent compared to QR 0.61 last year.

Commenting on the results, chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al Thani, said: "Our path to success has always been paved by backing our comprehensive service offerings with robust infrastructure capable of meeting the nation’s ever growing demands for logistics solutions."

"This purpose-driven commitment to operational excellence, support of the Qatar National Vision 2030, and dedication to our shareholders shall assure the best possible returns for all stakeholders in the company," he added.-TradeArabia News Service