24 July 2016
DOHA: GWC, Qatar's leading logistics provider, recorded a net profit of QR101.3m for the first half of 2016 (H1, 16), up 15 percent as compared to QR87.7m posted by the end of the same period in 2015.

The company's revenue streams had an equally consistent rise despite challenging market conditions, with total revenues peaking at QR430.1m at the end of the quarter, an 8 percent increase from QR397.9m in H1, 2015.

The earnings per share registered for the period was QR1.76 as compared to QR1.70 during the same period of 2015. The company's assets continued to develop, with total assets reaching QR3.297bn by the end of June 2016, compared with QR2.981bn at the end of December 2015, representing an 11 percent growth.

"By exploring new markets and maintaining our commitment to the tenets of the Qatar National Vision 2030, we continue to achieve our purpose and remain the provider of choice for logistics services in Qatar, and thereby ensuring our shareholders the best possible returns." stated GWC Chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al Thani (pictured).

On the development side, the GWC Bu Sulba Warehousing Park has completed 65 percent of construction at the site, keeping it on track for launch on time, with a significant number of clients already signed on for warehousing space and services. Meanwhile, the company's many divisions showed strong contributions towards client acquisition and project development.

GWC Contract Logistics signed on a number of important contracts in new consumer sectors, while GWC Forwarding performed a number of important charters for major clients in the oil & gas sector. GWC Records, Transport, and Fine Art handling also scored major contracts reaffirming the company's position as the provider of choice for logistics and supply chain solutions.

For its continued commitment to excellence in performance and service provision, GWC won the Supply Chain and Transport Awards (SCATA) award for Leading Logistics Manager of the Year 2016. This award and accolade came after the company won the prestigious Frost and Sullivan GIL Global Best Practices Award for Leading Domestic Logistics Service Provider of the Year 2016 earlier in the year. GWC is the leading provider of logistics and supply chain solutions in Qatar. Established as a Qatari shareholding company in 2004; the company offers high-quality warehousing and distribution services, hazmat logistics, freight forwarding, project logistics, sports and event logistics, equestrian logistics, fine art logistics, supply chain consulting, transportation management, records management, and door-to-door moving and relocation services. GWC delivers this by understanding their clients' needs and by leveraging their global shipping network. The company is backed by a team of committed and innovative experts in the field and supported by state-of-the-art IT systems and logistical infrastructure.

© The Peninsula 2016