Fostering organizational agility, attracting promising investment opportunities: Sheikh Mohammed Bin Hamad
Gulf Warehousing Company (GWC), one of the fastest-growing firms in the MENA region, has announced its financial results for the first quarter of 2024.
During the three-month period ending 31 March 2024, the company posted net profits of QAR 50.88mn, gross revenues of QAR 375.73mn, earnings per share of QAR 0.087, and total assets of QAR 5.07 bn for the same period.
Strategic plan
“GWC is actively implementing a strategic plan to drive growth in line with the Third National Development Strategy (NDS3) 2024-2030 which aims to reinforce Qatar’s position as a global logistics hub and position its logistics cluster as a specialized e-commerce distribution hub, focusing on re-exporting high-value items to reach up to QAR 52bn in re-exports by 2030,” commented Shaikh Mohammed Bin Hamad Bin Jassim Bin Jaber Al Thani, GWC Chairman.
“The launch of Al Wukair Logistics Park’s second phase represented a significant milestone in our mission to enable micro, small and medium enterprises in Qatar and the region. This modern facility is not just a logistics hub; it is a catalyst for economic growth, fostering entrepreneurship and facilitating the rapid growth of start-up businesses,” he added.
Strong focus
“GWC is committed to completing its current and planned projects to maximize returns for its shareholders. With a strong focus on improving operational efficiency and pioneering innovative solutions and initiatives, the company remains focused on evaluating emerging investment opportunities,” noted Sheikh Abdulla Bin Fahad Bin Jassim Bin Jaber Al-Thani, GWC Managing Director.
“Further expansions include launching GWC’s 100% owned FLAG subsidiary logistics Hub at Khazaen Economic City in Oman. FLAG is the first company to launch at Khazaen Economic City, which is strategically located to transport links and borders. It provides a platform, uniting Oman with the GCC, and the GCC with the rest of the world,” stressed Ranjeev Menon, GWC Group CEO.
