Qatar: GWC posts $10.35mln net profit in Q1
Doha, Qatar: Gulf Warehousing Company (GWC) – one of the leading logistics providers in the MENA region, announced its financial results for the first quarter (the three-month period ending March 31, 2025). The company reported total revenues of QR367.65m, a net profit of QR37.69m, and earnings per share of QR0.064.
Sheikh Mohammed bin Hamad bin Jassim bin Jaber Al Thani, GWC Chairman, said: 'We succeeded in achieving a growth in our net profits by 54% on a quarterly basis of QR37.69m in the first quarter of this year as compared to QR24.87m during the last quarter of 2024. At the same time, the company remains focused on achieving its strategic goals, which include sustaining profitability, expanding into promising sectors and markets, while contributing to the implementation of the Third National Development Strategy and Qatar National Vision 2030, and strengthening its position as one of the leading logistics providers in the MENA region.'
He added: 'We are continuing our efforts to solidify the company's financial position, enhance operational efficiency, and develop the infrastructure and human capital, while implementing a well-planned expansion strategy and adopting a prudent approach to mitigate potential risks.
This calls for greater flexibility and adaptability to changing economic conditions in order to ensure long-term stability, achieve sustainable returns, and maximize shareholder value.'
Sheikh Abdulla bin Fahad bin Jassim bin Jaber Al Thani, GWC Managing Director, said: 'GWC is actively implementing a comprehensive expansion strategy aimed at enhancing returns and diversifying its investments by solidifying its presence in promising markets that offer opportunities for sustainable growth. This will further strengthen our leadership in the regional logistics sector while expanding our local logistics network to provide best in class services to our clients.'
By the end of February 2025, GWC launched a cutting-edge logistics hub in Ras Laffan Industrial City, dedicated to servicing Qatar's vital oil and gas industry, particularly with the implementation of the North Field Expansion Project — the world's largest LNG project currently under construction.
In March, GWC signed a strategic partnership agreement with Huawei to provide delivery services for its e-commerce store across Qatar, ensuring an exceptional customer experience following the official launch of Huawei's e-commerce store in Qatar on March 20, 2025.
Matthew Kearns, GWC's Acting Group CEO, said: 'Innovation is our top priority as we aim to deliver leading logistics solutions that meet all customer needs and keep pace with future developments. In addition to our commitment to the highest standards of sustainability and governance, we are dedicated to supporting small and medium-sized enterprises, delivering world-class logistics services, expanding our customer base, and forging strategic partnerships with promising companies that add value to our business.
These will not only offer profitability opportunities, and enhance operational excellence, but also increase efficiency and reinforce our brand presence locally, regionally, and globally.'
In early April, GWC received its first Long- and Short-Term ratings on the Qatar National Scale of 'qaA-' and 'qaA2', respectively, from Capital Intelligence, with a stable outlook.
The international agency confirmed that GWC is the largest logistics services provider in Qatar, with a dominant market share in its home market, a strong financial position, and a focus on improving margins by offering higher value-added supply chain services, supported by its solid capital base.
© Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
The Peninsula Newspaper
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