GWC holds its Ordinary Assembly General Meeting

•Sheikh Mohammed Bin Hamad: A strategy to enhance performance and sustain profits

•Sheikh Abdulla Bin Fahad: Maintaining customer trust at the highest levels

•Matthew Kearns: Focusing on innovation and empowering small and medium enterprises

Gulf Warehousing Company Q.P.S.C (GWC) – one of the leading logistics service providers in the MENA region, held its Ordinary Assembly General Meeting on Wednesday, 12 February 2025, at the company’s Ras Bufontas Free Zone location.

The AGM was chaired by GWC Chairman, His Excellency Sheikh Mohammed Bin Hamad Bin Jassim Bin Jaber Al Thani and was attended by representatives of GWC’s external auditors, representatives of the Ministry of Economy and Industry and the company’s shareholders.

The AGM approved all items on the agenda, including the Board’s recommendation to distribute a cash dividend of QAR 0.10 per share, equivalent to 10% of the nominal share value. It also ratified the Board of Directors’ report on the company’s activities and financial position for the fiscal year ending 31 December 2024, along with the external auditor’s report, absolving the board members from liability and ratifying the annual corporate governance report.

His Excellency Sheikh Mohammed Bin Hamad Bin Jassim Bin Jaber Al Thani, GWC Chairman, said: “The company has solidified its position as a leader in the logistics and supply chain solutions sector, consistently improving its performance by adopting innovative solutions and adhering to global best practices. This has been accomplished while simultaneously enhancing the agility of our business model to ensure sustained profitability and improve adaptability to dynamic operational changes. For the year ending 31 December 2024, the company achieved strong financial results, with record annual gross revenues of QAR 1.582 billion, operating profits of QAR 306 million, a net profit of QAR 172 million, while earnings per share stood at QAR 0.293. The Board has recommended a 10% cash dividend, at QAR 0.10 per share, as part of its commitment to maximize shareholder value.”

His Excellency Sheikh Abdulla Bin Fahad Bin Jassim bin Jaber Al Thani, GWC Group Managing Director, said: “The company has successfully solidified its position in the logistics sector both locally and regionally. This is the result of a carefully executed strategy primarily focused on expanding into new sectors and markets, diversifying revenue streams, increasing market share, and mitigating potential risks, which is reflected in the financial results and the sustained profits achieved in 2024. GWC will continue to implement its strategy in 2025 to ensure operational excellence and efficiency while maintaining customer satisfaction at all highest levels.”

Mr. Matthew Kearns, GWC’s Acting Group CEO, stated: “Our focus at GWC is to drive innovation in the logistics sector by developing and adopting the latest technological advancements, whilst maintaining a strong commitment to sustainability and social responsibility. We are also committed to supporting local initiatives and empowering micro, small and medium-sized enterprises (MSMEs), to support wider industry development in Qatar and the region. This strategy has cemented GWC’s unique offering and its position as a leader in the logistics and supply chain industry across the region.”

GWC remains at the forefront as the premier provider of warehousing and distribution solutions across diverse sectors, offering services to entrepreneurs, MSMEs, as well as multinational companies. The company’s contributions to the logistics sector were recognised with multiple awards in 2024. The Al Wukair Logistics Park was named ‘Project of the Year,’ showcasing GWC’s ability to deliver forward-thinking infrastructure that meets the evolving needs of the market. Additionally, Qatar’s General Authority of Customs honoured GWC for its efforts in streamlining customs processes, further cementing its reputation as a trusted logistics partner. The company also ranked ninth regionally in the transport and logistics category on Forbes Middle East’s Sustainability Leaders 2024, which recognizes 105 companies leading impactful sustainability initiatives across the region.