GWC net profits growth hits 31.9% in Q3 2015
Gulf Warehousing Company (GWC), Qatar’s leading logistics provider, has scored a steady rate of growth in its net profits in the first nine months of 2015, marking a 31.9% increase in net profits on the same period last year.
The company’s revenue streams had an equally consistent rise during the nine months, achieveing a 20.3% increase on for the same period in 2014. Earnings per share rose 32% compared with the 2014 results.
“Such a consistent rate of returns, and the stability that we have been able to maintain during a time change, is a sign of solid leadership and resilient infrastructure,” stated GWC chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al Thani.
“It is with such sure footing that we can ensure the accomplishment of our purpose, and continue to foster the drive and tenacity to innovate and deliver, remaining the provider of choice for logistics services in Qatar, and thereby ensuring our shareholders the best possible returns.”
The company’s sports logistics activities has had a very active quarter, handling several major sporting events and providing them with customs clearance, venue management, manpower, equipment, and truck provision, and 4PL warehouse management.
Meanwhile, GWC's equestrian logistics department landed two public tenders for two major international equestrian events happening in Qatar.
GWC fine art’s partnership with Constantine is continuing to yield results with regularly scheduled art exports and imports, as well as in executing major shows in the country.
Development of the GWC Bu Sulba Logistics Park has finalised the leveling and compaction stage, with design and construction in the mobilisation stage, and the features and designs for individual buildings being finalised.
In addition, the company is continuing its expansion plans steadily with Logistics Village Qatar (LVQ) Phase 5 expansion, on schedule at 60% completion rate.
The Ras Laffan Industrial City facilities construction of the additional 15,000 square metre warehouse with specialised HAZMAT logistics specifications and capabilities is 90% completed, and is expected to be operational by Q1 2016.