GWC Concludes 2014 on a High Note and Scores 38% Growth in Net Profits
Gulf Warehousing Company, Qatar’s leading 3PL logistics provider, has greeted the New Year with a strong 38% increase in net profits throughout the year, achieving QAR 140.3 million by the end of the fiscal year 2014, as compared to QAR 101.6 million at the close of 2013. This was largely attributed to strong revenue streams, with total revenues peaking at QAR 673.3 million during 2014, a remarkable increase from QAR 527.3 million for the year 2013, a difference of 28%. Earnings per share rose to QAR 2.95 at the end of 2014, a remarkable increase of 38% compared with the 2013 results of QAR 2.14. Gulf Warehousing Company’s assets also saw exponential growth during 2014, rising to QAR 2.102 billion in total assets, a growth of 11.8% in comparison to its holdings in 2013, which amounted to QAR 1.879 billion. GWC approached its assets strategically, making expansion decisions that would best benefit the market and its clientele. Therefore, the Bu Sulba Logistics Hub has immediately formed one of the company’s biggest achievements in 2014, winning the contract for the 517,376 square meter site, making it one of the company’s biggest sites constructed to date, second only to the Logistics Village Qatar. Additionally, the Logistics Village Qatar (LVQ) developed a further 81,000 square meters, adding to an already impressive array of warehousing and distribution infrastructure during its fourth phase expansion during last year’s third quarter. The company intends to further supplement its one-stop shop, immediately operational fully integrated logistics infrastructure through a fifth expansion phase currently at the tendering stage. GWC also expanded on its industry specific assets, working to add nearly 65,000 square meters of facilities at its Ras Laffan Industrial City (RLIC) site, which will provide a new temperature controlled warehouse, a new open yard, and one of the first ISO tanks in the nation. “This constant development of our assets as well as seeking to meet our client needs are part of an overarching strategy to ensure that our stakeholders see constant returns on their investment,” stated GWC Chairman Sheikh Abdulla Fahad JJ Al-Thani. “Our long-term strategies will see us continue to develop on our current assets while exploring new avenues and markets ready for expansion and exploration,” he added. The company’s investments have shown strong dividends, and have made remarkable gains in all the company’s departments, including contract logistics and freight forwarding, earning major contracts with clients in the oil and gas field as well as other sectors. The RMS market continues to dominate the market, serving nearly all financial institutions in the country and entering the medical records field just this year with two major contracts with national health providers. International Moves and Relocations continued to expand its operation, and continues to maintain a 98% satisfaction rate on all moves, which have included full-office tower moves. Fine Art Logistics has taken steps to ensure its position as the country’s preferred fine art movers, and have therefore gained several national art installation and movement contracts. The transport department, meanwhile, added to its assets by establishing a container repair service offered directly to its clients through the LVQ site. In giving back to the Qatari community, GWC has also participated in a variety of cultural and charitable initiatives. The company was the official logistics partner for the Mal Lawal Exhibition, bringing local art and artifacts from all over the GCC to the exhibition in Doha. The company also partnered with the Youth Company – an initiative to encourage youth participation and volunteerism – several times this year, which included its participation as the logistics assets provider for the Run the World Festival held over the national day. In these ways and many more, the company has sought to contribute to the country’s social welfare as well as its economic and infrastructural needs. Gulf Warehousing Company Q.S.C. (GWC) is a Qatari shareholding company and is the leading provider of integrated logistical solutions in the State of Qatar. Established in 2004, the company is in the business of providing high-quality logistics solutions in Qatar and Middle East. GWC is one of the largest supply chain service providers in the region, offering warehousing and distribution, hazmat logistics, freight forwarding, project logistics, sports and event logistics, fine art logistics, supply chain consulting, transportation management, asset management, records management, and moving and relocation services to various industry verticals. We deliver this by understanding our customers and by leveraging our global network. GWC is backed by a team of committed and innovative experts and supported by state-of-the-art IT systems and storage infrastructure.