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GWC’s 2019 net profit rises 9% to QR249.1mn

Wednesday، 15 January 2020 12:28 AM

Qatar’s leading logistics provider GWC posted a net profit of QR249.1mn in 2019, up 9% on the previous year. In 2018, it had earned a net profit of QR227.6mn.
The company’s board of directors has recommended 20% cash dividend to shareholders, which is subject for discussion and approval during the company’s annual general meeting to be held on February 3.
GWC’s gross revenues reached QR1.2bn at the end of 2019, while earnings per share (EPS) increased to QR0.43, in comparison with QR0.39 at the end of 2018.
GWC chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor al-Thani said, “Our support for Qatar has formed the building blocks of our operational excellence. We are pursuing all opportunities locally and internationally that ensure we are the provider of choice for innovative logistics and supply chain solutions to enable the business community to focus on their core operations and achieve their objectives.”
The company’s comprehensive solutions have set a benchmark for logistics excellence in the market, which in turn has led to new contracts and opportunities. One such opportunity was the agreement with FIFA making GWC the first Official National Supporter of the FIFA Club World Cup Qatar 2019. GWC was entrusted with carrying out the complex logistics requirements for the tournament as the official logistics provider.
The company’s continued excellence in developing logistics infrastructure, such as the Logistics Village Qatar, GWC Bu Sulba Warehousing Park, and the oil and gas client-specific logistics bases in Ras Laffan Industrial City also led to a new award by Manateq to GWC for a “develop-build-finance-operate-transfer” contract for the establishment of the 1.48mn square meter Al Wukair Logistics Park.
GWC said it “has earned the trust of the market by delivering the best” in logistics and supply chain solutions in accordance with the “highest” quality, health, safety, security, and environment standards.
The company has celebrated several safety milestones during 2019 in Ras Laffan Industrial City, with 1,000 days at the RMOP base and some 730 days at the WSSA facility passing with no loss-time-injury, all while maintaining the exacting safety standards required by the oil and gas industry.
“Our strong track record of customer approval has created an impressive rate of client retention while attracting new customers from all market segments, as we work together to achieve the nation’s strategies, create a sustainable and diverse economy – an environment that will ensure the best returns for our investors,” stated Ranjeev Menon, group CEO of GWC.

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