GWC Achieves QAR 56.7 million in Q1 2018 Net Profits
Qatar’s leading logistics provider, concluded its first quarter of 2018 achieving QAR 56.7 million, as compared to QAR 50.5 million by the end of the same period in 2017, at a rate of 12%. The company’s revenue streams gained QAR 311,6 million at the end of the quarter, as compared with QAR 222.7 million in the first quarter of 2017, a 40% increase. Earnings per share also increased to QAR 0.97 by the end of Q1 2018, a 12% increase from QAR 0.86 at the end the same period in 2017.
“Our commitment to the diversification of the economy and the objectives of the Qatar National Vision 2030 has served us well, making us the largest provider of Qatar’s private logistics infrastructure,” stated GWC Chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al Thani. “With its proven foundations of infrastructure and innovative systems and solutions, the company has stood by the nation through the extraordinary circumstances it experienced lately, realizing our purpose to remain the provider of choice for logistics services in Qatar, and thereby ensuring our shareholders the best possible returns.”
GWC’s achieved this growth due to increasing operational and financial efficiencies, as well as expanding on its existing contract base. The company also completed key Fine Art logistics projects within the State of Qatar, including a major operation at the national airport.
Further proving its own capabilities and those of the nation, the company was a leading participant in the country’s inaugural “Qatar Self Sufficiency Exhibition”, a forward-thinking exhibition bringing together influential leaders and decision makers to demonstrate the innovations and solutions that will serve the needs of the nation.
The company’s commitment to excellence was recognized through several honours, recognition by QAFAC towards achieving 10 million incident free hours at their facility; and from the Director of the Listing Department at QE Mr. Abdulaziz Nasser Al Emadi, who commended the company’s websites for the astounding development that it had achieved during the Third Annual Investor Relations Excellence Program Awards Ceremony.
GWC Chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al Thani stated: “The company will continue to rely on the strength and stability made possible by our well-established infrastructure and by our highly skilled and loyal employee base as we set our strategies for the future.”