GWC posts QAR 50.3 million in Q1 net profits
GWC (Q.P.S.C.), the leading logistics provider in the State of Qatar, has announced its financial results for the first quarter of 2020. During the three-month period ending March 31, 2020, the company posted net profits of QAR 50.3 million, gross revenues of QAR 296.3 million, earnings per share of QAR 0.09, and total assets of QAR 3.7 billion for the same period.
“During this quarter, the company has furnished its expertise and capabilities in various logistics and supply chain fields such as warehouse management, distribution, transportation, freight, customs clearance, and supply chain consulting towards the best interests of the nation and its inhabitants; supporting it customers, human capital and the government of the State of Qatar in its efforts to mitigate the impact of the Coronavirus outbreak (COVID-19).” Stated GWC Chairman Sheikh Abdullah bin Fahad bin Jassim bin Jabor Al Thani.
GWC’s direct contribution is by maintaining the supply chain during this time of crisis. We have done so while ensuring the health and safety of our employees, clients, and other stakeholders by maintaining the best international health standards and the specific directives to combat this disease.
“GWC is now and always ready to deliver the nation’s every logistics need. By offering our every support to the business community, and keeping the flow of goods moving, we ensure the economy at large remains functional, and that the core needs of Qatar and its people are continually met,” stated GWC Group CEO Mr. Ranjeev Menon.
GWC has also recently announced a COVID-19 business support bundle aimed at SMEs, offering free customs clearance and transportation services for SMEs importing critical medical supplies used for the fight against COVID-19. This followed a previous announcement of a 3-month rent waiver for retail outlets and 6-month rental discounts for SME tenants at the GWC Bu Sulba Warehousing Park.