12% Growth in Operating Profits, GWC Announces Q3 Financials
GWC (Q.P.S.C.), Qatar’s leading logistics provider, announced its third quarter financial results for 2023. During the nine-month period ending 30th September 2023, the company posted a total revenue of QAR 1,136 million (2% growth YoY), an operating profit of QAR 248 million (12% growth YoY), and a net profit of 168 Million. Earnings per share reached QAR 0.29 for the same period ending 30th 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.” Sheikh Abdullah Bin Fahad Bin Jassim Bin Jaber Al Thani, Chairman, of GWC Group stated.
Ranjeev Menon, Group CEO, remarked, “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.”
Menon continued, expressing 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.
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.
In addition to its growth and sustainability endeavour’s, 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.
