GWC Records QAR 105.3 million in Net Profits for H1 2017
GWC (Q.P.S.C.), Qatar’s leading logistics provider, concluded its first half of 2017 achieving QAR 105.3 million, and when compared to QAR 101.3 million by the end of the same period in 2016 it represents a rate of growth of 4% in its net profits. This came about due to the company’s judicious leverage of its revenue streams, which registered QAR 455.0 million at the end of the period, recording a 6% increase from QAR 430.1 million in the first half of 2016. Constantly seeking the best interest of its shareholders, the company’s earnings per share also increased to QAR 1.8 in the first six months of 2017, a rise from 1.76 during the same period in 2016.
“Every effort has been taken so that the company serves the needs of the state, particularly during the current circumstances. We continue to search for alternatives and take all steps necessary to ensure the safe delivery of cargo to our clients and to the nation, realizing our purpose to remain the provider of choice for logistics services in Qatar, and thereby 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 taken decisive action to maintain optimal operations across the board, reviewing alternative routes, and leveraging the strength of its international freight network through its partner Agility, in addition to remaining the authorized service contractor for the international courier giant, UPS.
GWC’s continued commitment to the values of excellence in performance and service provision has won it the recognition of various international awards, including the Forbes Middle East Qatar Success Award 2017; the INSEAD/Trends Magazine’s TOP CEO 2017; and for its exceptional promotion of corporate social responsibility, the CSR Leadership award during Qatar University’s CSR Exhibition and Conference.
GWC Earns QAR 50.5 million in Net Profits for Q1 2017
GWC (Q.P.S.C.), Qatar’s leading logistics provider, concluded its first quarter of 2017 achieving QAR 50.5 million, as compared to QAR 46.5 million by the end of the same period in 2016. The company’s revenue streams gained QAR 222.7 million at the end of the quarter, as compared with QAR 220 million in the first quarter of 2016.
“Every effort has been taken to ensure that the company serves the best needs of the state as it transitions from oil dependency to a stable economic contributor to global wealth and trade, an essential element in achieving the Qatar National Vision 2030,” stated GWC Chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al Thani. “It is through this lens that we find in the current climate a wealth of opportunity to develop, innovate, and prosper, thereby recompensing our stakeholder’s investment and trust in us.”
GWC’s most recent contribution towards economic diversification has been the GWC Bu Sulba Warehousing Park, the first of the country’s public-private partnerships to bear fruit, which the company completed on schedule at the beginning of 2017. The warehousing park was conceived and is dedicated to serving the needs of the country’s growing SME sector by providing them the best possible logistics infrastructure and the benefit of the company’s experience in delivering world-class supply chain solutions.
Further adding to the company’s revenues has been the participation of the company’s various departments in developing new revenue streams, including efforts to coordinate efforts between the various departments to offer fully-integrated services to each client. To that end, a major telecommunications client was recently signed on to receive services from the company’s contract logistics, freight, and records management department.
To maintain the best services possible, the company has internally established a number of policies and procedures intended to optimize performance and protect against possible risk. Among those programs was the establishment of the Business Continuity Management and Enterprise Risk Management systems in the company. Put into practice in July 2016, the company successfully completed a test of the system during the first quarter of 2017 to ensure the company’s readiness to handle any disruption.
The company’s award winning performance was once again recognized by a number of independent authorities, with GWC earning a spot on INSEAD/Trends Magazine’s TOP CEO list for the third year in a row. For its contributions towards the nation’s social welfare, GWC also received the CSR Leadership award during Qatar University’s CSR Exhibition and Conference.
“GWC aims to be a partner to the State of Qatar both through the services it provides, as well as by the programs and initiatives we run and support,” stated GWC Chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al Thani. “Our well-proven, award winning services, solutions, policies, and standards will continue to support Qatar in its national vision.”