Gulf Warehousing Company (GWC) has posted a total revenue of QR1.58bn and a net profit of QR172mn in 2024.
Last year the company achieved an operating profit of QR306mn, GWC said on Tuesday.
Earnings per share stood at QR0.293 in December 2024. The company’s Board of Directors has recommended a 10% cash dividend, at QR0.10 per share.
GWC Chairman Sheikh Mohammed bin Hamad bin Jassim bin Jaber al-Thani said: “These results highlight the strength of the company’s business model and strategy, which aims to deliver sustainable, long-term returns for shareholders while expanding across various sectors and regions. Notably, 2024 marks the 20th anniversary of GWC’s journey, which has grown into one of the Middle East’s leading logistics providers.”
GWC Managing Director Sheikh Abdulla bin Fahad bin Jassim bin Jaber al-Thani said: “The company’s strategy is centred on driving operational efficiency, delivering world-class logistics services, expanding customer base, and strengthening GWC’s position as a trusted partner.
“It also focuses on enhancing operational agility, increasing the company’s presence in regional markets, and forging strategic partnerships with promising companies to ensure strong profitability. Additionally, it aims to expand into new sectors to diversify revenue streams, maintain stable cash flow, and mitigate potential risks.”
In 2024, GWC signed a Head of Terms with GFH Financial Group to develop 200,000 square meters of Grade ‘A’ logistics facilities across key locations in Saudi Arabia, including Riyadh, Jeddah, and Dammam.
GWC also signed a memorandum of understanding (MoU) for a strategic partnership between its wholly owned subsidiary, GWC Energy Services, and Saudi Offshore Fabrication Company (OFC) to develop 100,000sq m of Grade ‘A’ logistics facilities at Ras Al Khair Industrial Port in Saudi Arabia.
GWC’s Group Acting CEO Matthew Kearns stated: "Expansion is a key pillar of the company’s growth strategy. In early 2024, GWC launched its FLAG subsidiary (100% owned company) logistics Hub at Khazaen Economic City in Oman, further strengthening its footprint across the GCC.”
Kearns noted: "Supporting micro, small and medium-sized enterprises (MSMEs) is a key pillar of GWC’s strategy, as we offer comprehensive services tailored to this sector. The launch of Al Wukair Logistics Park’s second phase marked a significant milestone in our mission to enable MSMEs, promote entrepreneurship in Qatar, and increase opportunities for local partnerships.
“The first two phases of Al Wukair Logistics Park have already attracted a significant number of MSMEs with more than 900 units optimised as warehousing and light industry units, solidifying Qatar’s position as a promising and attractive destination for such businesses.”
In 2024, GWC took 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.
The company 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.
GWC is scheduled to hold its Assembly General Meeting on February 12. The agenda will include hearing the Board of Directors' report regarding the company's activity and financial position during the year, as well as the external auditor's report, and having both reports ratified. It will also discuss the company’s budget and calculate profits and losses for the fiscal year 2024 and ratify both of them.
Additionally, the meeting will include assigning the external auditor and setting their fees, looking into clearing the board members of any possible liability and approving their ruminations, along with approving the dividend payment of QR0.10 per share (10%), and approving the annual corporate governance report.
Business
GWC posts total revenue of QR1.58bn, net profit of QR172mn in 2024
The company’s Board of Directors has recommended a 10% cash dividend, at QR0.10 per share

GWC Chairman Sheikh Mohammed bin Hamad bin Jassim bin Jaber al-Thani.

GWC Managing Director Sheikh Abdulla bin Fahad bin Jassim bin Jaber al-Thani.

GWC facility at Ras Abu Fontas Free Zone.

GWC Group Acting CEO Matthew Kearns.