GWC Posts 10% growth in 2018 net profit to QAR237.5mn
GWC, Qatar’s leading logistics provider, concluded 2018 with a 10% surge in net profit to QAR237.5 million, as compared with QAR215.4 million in 2017. The Company’s Board has recommended 19% cash dividend to shareholders which is subject for approval during the company’s Annual General Meeting to be held on February 4, 2019.
Gross revenues of the company reached QAR1.232 billion at the end of 2018, in comparison with QAR 981.3 million earned at the end of 2017. EPS increased to QAR4.04 at the end of 2018, in comparison with QAR 3.68 at the end of 2017.
“Such an achievement reflects the success of our long-term strategy, while supporting Qatar National Vision 2030 in becoming a sustainable and diverse economy, and ensuring the best possible returns to our shareholders.” Stated GWC Chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al-Thani.
The year 2018 has been witness to a number of achievements within the company’s various departments, as GWC’ contract logistics, forwarding, transport, records management and projects departments have made major in-roads in developing contracts with clients in the oil and gas, government, FMCG, and retail sectors, while relocations, fine art, equestrian logistics scored high with clients locally and internationally.
The company also pursued new ventures by adding LEDD Technologies, a technology services and solutions provider aiding local business transformation, and launched GWC Marine operations, offering shipping agency services that meets the economy’s growing needs.
Meanwhile, as the authorized service contractor for UPS in the State of Qatar, and through its massive logistical infrastructure and human capital, GWC has been assigned the agent for UPS Supply Chain Solutions in Qatar.
“Our purpose-driven values of innovation and performance continue to propel us forward in 2018, maintaining and developing our position as the preferred logistics provider in the State of Qatar, and thereby ensuring the best possible returns for our shareholders,” stated Ranjeev Menon, Group CEO of GWC.
The company’s commitment to excellence was recognized by Microsoft and received the “Digital Transformation Award” for its outstanding achievements in leading the company’s digital transformation. GWC was also recognised by the Qatar Green Building Council for its efforts contributing to a greener lifestyle, sustainable development, and environmental protection both in Qatar and internationally.