GWC reports first half net profit of QR62.46 mn on revenue of QR712.69 mn
Doha
Gulf Warehousing Company (GWC), one of the fastest-growing businesses in the MENA region, on Tuesday announced that the company reported total revenues of QR712.69 million and a net profit of QAR 62.46 million, while earnings per share stood at QAR 0.100 during the same period.
GWC Chairman Sheikh Mohammed bin Hamad bin Jassim bin Jaber Al Thani said, 'Logistics plays a vital role in facilitating the movement of goods and services and boosting both domestic and international trade. It also serves as a fundamental pillar in diversifying the national economy in line with the Third National Development Strategy and Qatar National Vision 2030. With its strategic advantages, Qatar is well-positioned to become a global logistics hub. In this context, GWC is proud to support the growth of the logistics sector, maintaining a leading position in the Qatari market by offering a comprehensive range of services that include warehousing, distribution, records management solutions, logistics hubs, freight forwarding, fine art logistics, transportation, air and sea freight, and customs clearance.'
He said, 'We are steadily increasing our support for small and medium-sized enterprises (SMEs) through Al Wukair Logistics Park, which spans 1.5 million square meters and offers world-class infrastructure and a solid platform for business growth and expansion. At the same time, we are fully prepared to seize the opportunities presented by the North Field Expansion Project —the world's largest LNG project currently under construction—with the first phase set to begin production by mid-next year. In February, GWC launched a cutting-edge logistics hub in Ras Laffan, dedicated to serving Qatar's oil and gas industry. This facility complements the operations of GWC Energy, a wholly owned subsidiary of GWC.'
GWC Managing Director Sheikh Abdulla bin Fahad bin Jassim bin Jaber Al Thani said, 'The company continues to implement an expansion strategy based on a solid financial foundation and a diversified portfolio of investments across sectors and geographies. This approach enables us to adapt to fluctuations in the operational environment, diversify income sources, and reinforce the company's leadership in the regional logistics sector. At the same time, we are undertaking a comprehensive development of our services, focusing on seizing investment opportunities with carefully studied risks and returns, enhancing our competitive capabilities, and maintaining sustainable profitability through prudent risk management.'
He said, 'Our subsidiaries continue to expand regionally and forge strategic partnerships in high-potential markets. At the same time, we are expanding into new sectors while entering new markets. As part of this growth, GWC has signed a strategic service agreement with Huawei to provide delivery services for its official e-commerce store across Qatar, ensuring an exceptional customer experience. This move marks a significant expansion in the e-commerce sector and aligns with our strategy to offer innovative logistics solutions.'
GWC Group Acting CEO Matthew Kearns said, 'Capital Intelligence, the international credit rating agency, has assigned GWC its first-ever Long- and Short-Term ratings on the Qatar National Scale of 'qaA-' and 'qaA2', respectively, with a Stable outlook. This recognition reflects the company's strong market position and the resilience of our business model amid global challenges.'
He said, 'We maintain a strong focus on driving innovation in our logistics solutions while accelerating sustainability initiatives across all our operations. Recently, GWC partnered with Yellow Door Energy, a leading provider of sustainable energy solutions in the Middle East and Africa, to develop solar power stations at three of its key logistics centers: Logistics Village Qatar, Bu Sulba Warehousing Park, and Al Wukair Logistics Park. This initiative marks one of the largest private-sector solar energy projects in the GCC.'
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