Reports a healthy 12% growth in operating profits
GWC (QPSC), Qatar’s top logistics provider, announced its remarkable third quarter financial results for 2023.
During the nine-month period ending 30 September 2023 (Q3-2023), the company posted a total revenue of QAR 1,136mn (US$ 312mn) representing a 2% growth YoY, and an operating profit of QAR 248mn (US$ 68.11) reflecting a 12% growth YoY, and a net profit of QAR 168mn (US$ 6.14mn).
Earnings per share reached QAR 0.29 for the same period ending 30 September 2023.
“This year, GWC Group embarked on an ambitious journey, exploring new markets, and diversifying its services. These strategic moves are reinforcing Qatar’s position as a regional and global logistics and reexport hub, setting the stage for continued growth and innovation,” affirmed Sheikh Abdullah Bin Fahad Bin Jassim Bin Jaber Al Thani, Chairman, GWC Group.
“The unveiling of Phase-2 of GWC Al Wukair Logistics Park, the landmark 1.5 million-square-meter integrated logistics hub, during the third quarter is a major milestone for MSMEs landscape. This aligns with our forward-looking mandate and our commitment to Qatar National Vision 2030,” asserted Ranjeev Menon, Group CEO, GWC.
Strategic plan
Menon expressed pride in GWC’s strategic plan and their significant progress in achieving their goals, with a strong emphasis on innovation and a people-centric approach. He highlighted GWC’s role as the official logistics service provider for Expo Doha Qatar 2023, underscoring the event’s focus on sustainability.
The Expo provides an exceptional platform for GWC to showcase its innovative and environmentally friendly solutions, reshaping the logistics landscape, he noted.
GWC has reached a remarkable milestone, securing a prestigious top 10 position in Forbes ‘Top 100 Middle East’s Sustainability Leaders’ within the logistics and transport category. This achievement is a testament to our unwavering commitment to sustainability.
Sustainability endeavours
In addition to its growth and sustainability endeavours, GWC conducted its annual blood donation drive last month as part of its Corporate Social Responsibility (CSR) commitment. These blood donation drives reflect GWC’s ongoing support for the Qatar community and its dedication to fostering a culture of social responsibility among its employees.
Established in 2004, GWC has become the top-notch logistics and supply chain solutions provider in the State of Qatar and one of the fastest growing companies in the region. GWC offers best-in-class logistics and supply chain services that include warehousing, distribution, logistics solutions for hazardous materials, freight forwarding, project logistics, sporting events and equestrian logistics solutions, fine art logistics, supply chain consulting services, transportation, records management, and local and international relocation services.
GWC benefits from a global freight network and massive logistics infrastructure spanning over 4 million square meters. GWC was the first Regional Supporter and the Official Logistics Provider for the FIFA World Cup Qatar 2022™, a press communique concluded.
