GWC posts 10% growth in quarterly net profits, registering QAR 174 million
GWC (Q.P.S.C.), Qatar’s leading logistics provider, concluded its third quarter of 2018 achieving QAR 173.91 million, representing a 10% growth when compared to QAR 157.26 million by the end of the same period in 2017. Gross revenue scored was QAR 920.83 million at the end of the third quarter of 2018. This corresponded with growth in earning per share for the company’s shareholders, which increased to QAR 2.97 at the end of the third quarter of 2018, a 10% rise from QAR 2.68 during the same period in 2017.
“The company continues to register growth year after year due to its ability to adapt and provide for the nation’s needs, which are particularly great as the nation concludes the first year of the Second National Development Strategy, and as projects propel forward in the short years leading up to the FIFA World Cup 2022,” stated GWC Chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al Thani. “The company will offer the full support of its developed infrastructure and advanced systems to achieve the nation’s objectives as stipulated in the Qatar National Vision 2030, and thereby achieve the company’s purpose in remaining the preferred logistics provider in the country and ensuring the best possible returns for our shareholders.”
All the company’s divisions have collaborated with the nation, innovating new solutions to new challenges, and fulfilling their needs as the Qatari economy stands strong. Contract Logistics has been instrumental in the nation’s food security plans, while Forwarding and Hazmat have excelled in devising new solutions for the oil and gas industry. Records Management, the country’s pioneer in the field, has now earned universal trust, signing or maintaining contracts with every provider in the country’s banking sector, in addition to serving all industry verticals. GWC’s niche services have also registered significant growth, expanding their departments and developing their resources in anticipation of meeting continued and consistent demand for Fine Art and Equestrian logistics services for instance.
“The company’s bespoke infrastructure and end-to-end supply chain solutions, backed by the latest technology and developed resources and skills, ensure our ability to meet and exceed every demand,” stated GWC Group CEO Mr. Ranjeev Menon. “Our responsive nature to the needs of the market as a whole and our clients in particular creates the foundation to bridging the gap between the market and opportunities, generating new revenue streams and ensuring our position as the logistics provider of choice in the Qatari market place.”
The company’s acclaimed expertise and resources have become an example to behold, drawing much interest at the Big 5 Qatar Exhibition, an event it was both present at and provided on-site logistics support to. GWC’s abilities also drew international interest, with both US and British trade delegations visiting the company’s Logistics Village Qatar to examine its capabilities and calibre as well as become aware of its fundamental purpose.