22 October 2015
Doha: Gulf Warehousing Company Q.S.C. (GWC), Qatar's leading logistics provider, recorded a solid net profit of QR135.1m for first nine months of 2015, an increase of 31.9 percent when compared to QR102.4m net profit reported by the end of September 2014.
The company's revenue streams had an equally consistent rise, with total revenues peaking at QR607.9m during the first nine months of this year, a significant 20.3 percent increase from QR505m for the same period in 2014. Earnings per share rose to QR2.84 during this period, an increase of 32 percent from QR2.15 a year ago.
"Such a consistent rate of returns, and the stability that we have been able to maintain during a time change, is a sign of solid leadership and resilient infrastructure," said GWC Chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al Thani (pictured). "It is with such sure footing that we can ensure the accomplishment of our purpose, and continue to foster the drive and tenacity to innovate and deliver, remaining the provider of choice for logistics services in Qatar, and thereby ensuring our shareholders the best possible returns."
As part of its expansion plans, the company has taken the decision to increase its capital through offering new shares. The rights issue is expected to raise over QR457.77m. The subscription period for eligible shareholders starts on November 8 and ends on November 25, 2015. The company's Sports and Logistics were very active during the third quarter, handling several major sporting events. Meanwhile, Equestrian Logistics were involved in two major international equestrian events. Additionally, GWC Fine Art's partnership with Constantine is continuing to yield results, both with regularly scheduled art exports and imports, as well as in executing major shows in the country.
Development of the GWC Bu Sulba Logistics Park has finalised the levelling and the construction is in the execution stage. The features and designs for individual buildings being finalised.
In addition, the company is continuing its Phase 5 expansion plans. The Ras Laffan Industrial City facilities construction of the additional 15,000 sqm warehouse with specialised HAZMAT logistics specifications and capabilities is 90 percent completed, and is expected to be operational by Q1, 2016.
GWC is a Qatari shareholding company and is the leading provider of integrated logistical solutions in the State of Qatar. Established in 2004, the company is in the business of providing high-quality logistics solutions in Qatar and Middle East. GWC is one of the largest supply chain service providers in the region, offering warehousing and distribution, HAZMAT logistics, freight forwarding, project logistics, sports and event logistics, fine art logistics, supply chain consulting, transportation management, asset management, records management, and moving and relocation services to various industry verticals.
Doha: Gulf Warehousing Company Q.S.C. (GWC), Qatar's leading logistics provider, recorded a solid net profit of QR135.1m for first nine months of 2015, an increase of 31.9 percent when compared to QR102.4m net profit reported by the end of September 2014.
The company's revenue streams had an equally consistent rise, with total revenues peaking at QR607.9m during the first nine months of this year, a significant 20.3 percent increase from QR505m for the same period in 2014. Earnings per share rose to QR2.84 during this period, an increase of 32 percent from QR2.15 a year ago.
"Such a consistent rate of returns, and the stability that we have been able to maintain during a time change, is a sign of solid leadership and resilient infrastructure," said GWC Chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al Thani (pictured). "It is with such sure footing that we can ensure the accomplishment of our purpose, and continue to foster the drive and tenacity to innovate and deliver, remaining the provider of choice for logistics services in Qatar, and thereby ensuring our shareholders the best possible returns."
As part of its expansion plans, the company has taken the decision to increase its capital through offering new shares. The rights issue is expected to raise over QR457.77m. The subscription period for eligible shareholders starts on November 8 and ends on November 25, 2015. The company's Sports and Logistics were very active during the third quarter, handling several major sporting events. Meanwhile, Equestrian Logistics were involved in two major international equestrian events. Additionally, GWC Fine Art's partnership with Constantine is continuing to yield results, both with regularly scheduled art exports and imports, as well as in executing major shows in the country.
Development of the GWC Bu Sulba Logistics Park has finalised the levelling and the construction is in the execution stage. The features and designs for individual buildings being finalised.
In addition, the company is continuing its Phase 5 expansion plans. The Ras Laffan Industrial City facilities construction of the additional 15,000 sqm warehouse with specialised HAZMAT logistics specifications and capabilities is 90 percent completed, and is expected to be operational by Q1, 2016.
GWC is a Qatari shareholding company and is the leading provider of integrated logistical solutions in the State of Qatar. Established in 2004, the company is in the business of providing high-quality logistics solutions in Qatar and Middle East. GWC is one of the largest supply chain service providers in the region, offering warehousing and distribution, HAZMAT logistics, freight forwarding, project logistics, sports and event logistics, fine art logistics, supply chain consulting, transportation management, asset management, records management, and moving and relocation services to various industry verticals.
© The Peninsula 2015
