Search QatarPRNetwork.com

Home >> Business and Economy

GWC Posts QAR 50.88 million in Q1 Net Profits

GWC Posts QAR 50.88 million in Q1 Net Profits

Sunday, October 20, 2024/ Editor -  

Share

Home >> Business and Economy
  • Sheikh Mohammed Bin Hamad: Fostering organizational agility attracting promising investment opportunities
  • Sheikh Abdulla Bin Fahad: Focusing on completion of ongoing and upcoming projects
  • Ranjeev Menon: Continuing expansion strategy vertically and geographically 

23 April 2024, Doha: Gulf Warehousing Company Q.P.S.C (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 50.88 million, gross revenues of QAR 375.73 million, earnings per share of QAR 0.087, and total assets of QAR 5.07 billion for the same period.

Shaikh Mohammed Bin Hamad Bin Jassim Bin Jaber Al Thani, GWC Chairman, said: “The first-quarter results underscore the company's financial position strength, and business model fostering organizational agility necessary to attract promising investment opportunities. 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.”

He added: “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.”

Sheikh Abdulla Bin Fahad Bin Jassim Bin Jaber Al-Thani, GWC Managing Director, said: “GWC is committed to completing its current and planned projects in order 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. He noted the promising prospects for the Qatari economy, underscoring GWC's dedication to contributing to its rapid development and bolstering various economic sectors."

He added: “GWC has achieved a significant milestone by being the logistics services provider for Expo 2023 Doha, given its strong track record in providing integrated logistics services for major global events, including the FIFA World Cup Qatar 2022. Expo 2023 Doha kicked off on October 2, 2023, and ran for 179 days until March 28, 2024.”

Ranjeev Menon, GWC Group CEO, said: “Further expansions include launching GWC's FLAG subsidiary (100% owned company) 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. FLAG Oman is set to become a vital hub, connecting powerhouse locations across the region, including Muscat, Doha, Bahrain, Jeddah, Riyadh, and Dubai. It provides a platform, uniting Oman with the GCC, and the GCC with the rest of the world.”

 


Previous in Business and Economy

Next in Business and Economy


Home >> Business and Economy Section

Latest Press Release

Keeta Sets Stage for Qatar Market Entry with Exclusive Founding Vendor Program f ...

Passenger Growth Hits 5% in May

Nasser Bin Khaled Automobiles Hosts Private Screening of 'F1: The Movie' In coll ...

May Air Cargo Demand Up 2.2% Despite Trade Disruptions

Qatar Insurance Group Earns MSCI's Highest ESG Rating, Cementing Its Leadership ...

Zulal wellness resort partners with qatar airways privilege club to offer exclu ...

Education Above All Foundation Announces New Collaboration with the American Cha ...

Auto Class Cars Launches its Special Summer offer on Maxus D60 and D90 max SUVs

Qatar Automobiles Company – FUSO: Driving Progress Across Industries in Qatar

Dukhan Bank Ranks #62 on Forbes Middle East's Top 100 Listed Companies for 2025

Nissan hosts world premiere of all-new Patrol NISMO in the Middle East, elevatin ...

The Mitsubishi Montero Sport.. Attractive design, High Performance and Durable

Hibrid and Alibaba Cloud Sign MoU to Deliver Advanced Streaming and Comprehensiv ...

CASIO Middle East Africa Marks Six Decades of Calculator Legacy

Dukhan Bank Named “Qatar's Best Bank for Consumers” at Euromoney Awards for Exce ...

Get Ready for Fabulous Summer Looks with BADgal BANG! Power Blue Mascara!

QIC Blog Launches Summer Themed Travel Advisory Series

Doha Mall Expands Dining Options with New Restaurants and the Launch of The Food ...

WCM-Q research highlights Qatar's path to 'global health excellence' in cancer c ...

Msheireb Museums and Sidra Medicine Host Science Café on AI in Precision Medici ...