Gulf Warehousing Company : Steady, Reliable Rise to 29% Increase in Net Profits
Gulf Warehousing Company (GWC) continues its steady march forward, with net profits in the first half of fiscal year 2013 reaching 52.08 million QR, indicating a growth of 29% from 40.46 million QR attained in the same period of 2012. Among the company’s high grossers were the contract logistics and freight forwarding department, which combined their efforts with the company’s other divisions to net revenues of 261.4 million QR, another strong increase of 13% from last year’s figure of 230.45 million QR during the same period.
This significant growth is both a strong indicator and the result of the local market’s confidence in GWC’s abilities and services. As the leading provider of integrated logistics services in Qatar, the company has distinguished itself in its ability to serve its clientele along every step of the supply chain. Whether the company serves its clients at any of its 6 different warehousing and logistics stations or puts its expertise and proprietary warehouse management systems to use in the clients’ facilities, GWC remains the one-stop-shop for all Qatari businesses’ logistical needs.
GWC’s crowning achievement, the Logistics Village Qatar (LVQ), is the ultimate example of what is possible when you unify all avenues of service in one location. With Phase 3 of its original master plan fully functioning and operational, and the work on the newly-designed Phase 4 expansion underway, the logistics village has largely contributed to the increase of our total assets to 1.71 billion QR, a rise of 8% from 1.58 billion QR during the same period in 2012.
With the extreme success of the LVQ experiment, the company has attracted both local and international interest in opening new projects based on the same model, such as the MOU GWC has signed with a local partner in the city of Dammam, the Kingdom of Saudi Arabia, to look into establishing a Saudi logistics village.
The company’s performance and unique market reputation garnered an increase in EPS, reaching 1.10 QR in the first half of 2013, a rise of 29% from 0.85 QR during the same period in 2012. The Chairman of GWC Mr. Mohammed Ismail Al-Emadi added, “we shall continue to capitalize on this confidence in our abilities and our services to improve share value and return on investment as we see our influence spread locally, regionally, and internationally”.