Gulf Warehousing Company (GWC), Qatar’s leading logistics provider, has reported net profit of QR61.5mn in the first three months of this year.
The company's gross revenues stood at QR412.7mn, earnings per share at QR0.105, and total assets at QR4.8bn for the same period to March 31.
“GWC will continue to remain committed to diversifying our offerings with the aim of further strengthening Qatar’s position as a global and regional logistics hub,” said Sheikh Abdullah bin Fahad bin Jassim bin Jaber al-Thani, GWC chairman.
Ranjeev Menon, GWC Group chief executive officer, said GWC is optimistic about the future on expanding its footprint in the region this year by offering innovative and specialised end-to-end logistics solutions.
“We are currently finalising the second phase of the Al Wukair Logistics Park, and this will go a long way in enabling MSMEs (micro, small and medium enterprises) in Qatar promoting diversification,” he said.
2023 started with GWC being accredited as GCC (Gulf Co-operation Council) Authorised Economic Operator Programme by the General Authority of Customs in Qatar.
This comes as a progression to GWC becoming the first logistics company in Qatar to receive the Authorised Economic Operator (AEO) certification in customs clearance category in 2021.
GWC has won several recognitions, including the “ISO 31000:2018 Record of Verification” certification for Enterprise Risk Management (ERM) System; and “Best Logistics Systems Operator” at the inaugural International Chambers of Commerce (ICC) C4DTI Digital Trade Awards held in London.
“These accreditations and certifications are testament to GWC’s diligence and commitment to innovation and safety, coupled with a strong focus on accountability, and responsibility. These accolades belong also to our clients and stakeholders whose unwavering trust and confidence in GWC made all these achievements possible," Menon said.
Through its Master Delivery Schedule (MDS) project, GWC was able to prioritise deliveries, minimise unplanned deliveries and reduce bottlenecks during the FIFA World Cup in 2022.