Gulf Warehousing Company: Unprecedented Growth in the Past Four Years
Gulf Warehousing Company, Qatar’s leading asset-based logistics and supply chain solutions provider, has registered yet another year of record profitability, with a total of 84.9 million in net profits for fiscal year 2012. While comparing it to the 2011 net profits of 61.7 million for a registered increase of 37.6% is impressive enough, when put side by side with the figures from 2009 with an average annual growth of 105% for the last four years, a triumph of growth reveals itself.
These indicators tell the same story across other statistics. Gross revenues were at 479.7 million QR at the end of 2012, an increase from 419.57 million QR in 2011 and from 74 million QR in 2009, a four year average annual growth of 86%. Individual sectors have made equally impressive gains, as freight forwarding revenues quadrupled in the last four years, while contract logistics has more than tripled its customer base and transport nearly doubling theirs. Niche services such as record management services and international moving and relocation services have also doubled and nearly tripled their revenues respectively.
This growth is the result of a finely developed strategic vision combined with practical expertise, and has allowed the company to continually invest in itself. Logistics Village Qatar (LVQ), the one million square meter fully-integrated logistics hub, will complete the third phase of the expansion set in the original master plan this quarter, and GWC is putting the finishing touches on an additional fourth phase of expansion. The company has also doubled its transportation vehicle capacity, for a full fleet of 700, with more than 60 vehicles servicing the distribution sector, and over 500 retail outlets as well as home deliveries within Qatar reached.
Combined with strategic product and services partners in Doha, the company has further entrenched itself in Qatar’s logistics and supply chain sector.
Its national successes have also allowed GWC to expand abroad, opening branch offices in Dubai in the United Arab Emirates, Jeddah and Riyadh in the Kingdom of Saudi Arabia, and with ongoing negotiations in Bahrain. For such outstanding efforts and accomplishments, GWC has been the toast of several award committees. In 2012, the company won its third consecutive Arabian Business Achievement Award for “Best Logistics Company of the Year” and Logistics Village Qatar was awarded “Best Logistics Infrastructure in the Middle East 2012” at the supply chain and transport award (SCATA) for its state of the art infrastructur As a natural and inevitable result of its success during the past four years, total assets have increased in 2012 to 1.5796 billion QR, an increase of 26.5% from from 1.2489 QR billion in 2011. The return to investors has also been extremely favorable, with earnings per share (EPS) up to 2.14 QR at the close of 2012, rising from 1.56 QR in 2011 for a 37.2% advance. “The last four years have been a test of our strength of vision and our commitment to our investors, and after returning on our investments in leaps and bounds we can proudly say we’ve passed this test,” explained GWC Chairman Mr. Mohammad Esmael Al-Emadi. “We will remain steadfast in our dedication to our shareholders and expect to continue to produce even higher figures in the coming years.”