PRESSR: 12% growth in operating profits, GWC announces its third-quarter financials
GWC (Q.P.S.C.), the leading logistics provider in Qatar, announced its financial results for the third quarter of 2023. During the nine-month period ending on September 30, 2023, the company achieved total revenues of 1,136 million Qatari riyals (a growth of 2% % on an annual basis), an operating profit of 248 million Qatari riyals (a growth of 12% on an annual basis), and a net profit of 168 million Qatari riyals. Earnings per share amounted to 0.29 Qatari riyals for the same period ending September 30, 2023.
Sheikh Abdullah bin Fahd bin Jassim bin Jabr Al Thani, Chairman of the GWC Group, said: “This year, the GWC Group has embarked on an ambitious journey to explore new markets and diversify its services. These strategic moves strengthen Qatar’s position as a regional and global center for services.” logistics and re-export, paving the way for continued growth and innovation.”
Ranjeev Menon, Group CEO, said: “The unveiling of the second phase of GWC Al Wukair Logistics Park, a 1.5 million square meter integrated logistics centre, during the third quarter is a major achievement for the MSME landscape. This is in line with our commitment to achieving Qatar National Vision 2030.”
Menon continued, expressing his pride in GWC’s strategic plan and the great progress it has made in achieving its goals, with an emphasis on innovation and a human-centered approach. He highlighted GWC's role as the official logistics services provider for Expo Doha Qatar 2023, stressing the event's focus on sustainability. The exhibition provides an exceptional platform for GWC to showcase its innovative and environmentally friendly solutions, reshaping the logistics landscape.
GWC has achieved a remarkable achievement by obtaining a prestigious position among the top 10 companies in the Forbes Middle East Sustainability Leaders list in the Logistics and Transportation category. This achievement is a testament to the company's unwavering commitment to sustainability.
In addition to its development and sustainability endeavors, GWC conducted its annual blood donation drive last month as part of its commitment to corporate social responsibility. These blood donation campaigns reflect GWC’s ongoing support for the Qatari community and its dedication to promoting a culture of social responsibility among its employees.
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About GWC
GWC was established in 2004 and has become the leading logistics and supply chain solutions company in Qatar and one of the fastest growing companies in the region. The company provides the best logistics services and supply chain solutions that include warehousing, distribution, logistics solutions for hazardous materials, freight forwarding, project logistics, sporting events, logistics solutions for equestrian and artistic works, supply chain consulting services, transportation, and records management, in addition to transportation and relocation services locally and internationally. The company provides these services through a global shipping network and a huge logistics infrastructure extending over more than 4 million square metres. GWC was the first regional supporter and official logistics provider for the FIFA World Cup Qatar 2022™.
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