Launches GWC Energy Services in April 2023
Gulf Warehousing Company (GWC) recently announced the results for H1-2023, realizing a total 9% revenues’ growth YoY at QAR 786mn (US$ 215.9mn), making a growth of 14% in Gross Profits at QAR 235mn (US$ 64.55mn), and a net profit of QAR 115mn (US$31.6mn).
This accomplishment is realized despite the global financial and economic headwinds caused by the surge in lending and borrowing profit rates and the slowdown in trade, according to a press statement.
Growth
“As we enter the second half of 2023 and getting closer to the go-live of second Phase of Al Wukair Logistics Park, we look forward for more successes, continuing our quest for growth, and contributing to the realization of Qatar National Vision 2030,” stressed Sheikh Abdulla Bin Fahad Bin Jassem Bin Jaber Al-Thani, Chairman, GWC.
In April 2023, GWC launched GWC Energy Services, a wholly owned subsidiary focused at providing the oil & gas sector with dedicated and bespoke services. This was followed by signing a strategic agreement with renowned global leader in the maritime industry Louis Dreyfus Armateurs (LDA) to support offshore energy services thus opening the pathway for significant opportunities in the maritime sector.
“Our strategic approach, driven by cutting-edge technology and employee development, reinforces our conviction, as we continue to deliver exceptional solutions and progress with utmost determination,” commented Ranjeev Menon, Group CEO, GWC.
