GWC Reports Nine-Month Net Profit of QR147mn
•Sheikh Mohammed Bin Hamad: We are committed to creating long-term value for clients and shareholders
•Sheikh Abdulla Bin Fahad: Implementing a diversification strategy within our investment portfolio
•Ranjeev Menon: Prioritizing profitability, business growth, innovation, and sustainability
Gulf Warehousing Company Q.P.S.C (GWC) – one of the fastest-growing businesses in the MENA region, announced its financial results for the third quarter of 2024, reporting total revenues of QR1.191bn. The company posted operating profits of QR253mn, and a net profit of QR147mn during the nine-month period ending on September 30, 2024. The company’s earnings per share registered QR0.25 during the same period ending on September 30, 2024.
Shaikh Mohammad Bin Hamad Bin Jassim Bin Jaber Al Thani, GWC chairman, said: “The strong performance over the past nine months is a testament to our robust operational capabilities and business agility. We remain committed to our ongoing diversification strategy, while capitalizing on new investment opportunities to effectively mitigate risks and ensure steady growth.”
He added: “We aim to solidify GWC’s position as a leading provider of logistics and supply chain solutions through expanding our service offerings, improving operational efficiency, and upholding the highest standards of excellence, while creating long-term value to our clients and shareholders. Additionally, the company is reinforcing its presence in key markets, maintaining a strong commitment to sustainability by integrating best-in-class environmental, social, and governance (ESG) practices across its operations.”
Sheikh Abdulla Bin Fahad Bin Jassim bin Jaber Al-Thani, GWC Managing Director, said: “We are dedicated to expanding into new sectors and markets, while consistently delivering outstanding logistics services to our clients. This approach has not only improved our brand power and expanded our geographic footprint, but also diversified our investments across various sectors and maintained our positive financial results. Additionally, the numerous awards we have received stand as a testament to our excellence and motivate us to achieve even greater milestones.”
Ranjeev Menon, GWC Group CEO, said: “The first nine months of 2024 have been a period of remarkable achievements. As we move into the final quarter of the year, our focus remains on profitability, business growth, innovation, sustainability, digital transformation, diversifying revenue streams, and developing human capital. We are also committed to contributing to the Third National Development Strategy and Qatar National Vision 2030.”
This year, GWC has taken significant strides in enhancing its position as a leader in the logistics sector by launching a variety of initiatives and earning numerous accolades that showcase its commitment to excellence. Notably, GWC ranked ninth regionally in the Transport and Logistics category on Forbes Middle East’s 2024 Sustainability Leaders list, which recognizes 105 companies leading impactful sustainability initiatives across the region.
GWC remains at the forefront as the premier provider of warehousing and distribution solutions across diverse industries. The company’s comprehensive services cater to entrepreneurs, MSMEs, and MNCs, as it manages billions of customer documents throughout their lifecycle in advanced storage facilities, provides land, air, and sea freight services, along with customs clearance, project logistics, and international moving and relocations. Additionally, GWC manages the State of Qatar’s largest fleet, boasting over 1,600 trucks, trailers, and specialized vehicles, while also providing marine services, facilitated through established subsidiaries, include shipping agency services, liner representation, port agency services, cruise ship hosting, and husbandry services. As the Authorized Service Contractor (ASC) for UPS in Qatar, GWC strategically expands the courier giant’s market share through the utilization of its logistics infrastructure.
