DOHA: GWC, Qatar’s leading logistics provider, finished the third quarter of 2016 with an increase of 11 percent in its net profits, achieving QR150m, as compared to QR135m by the end of the same period in 2015. The company’s total revenues also grew to QR634m at the end of the quarter, a 4 percent increase from QR608m in the first three quarters of 2015.
GWC’s assets continued to grow, with total assets reaching QR3.61bn by the end of September 2016, compared with QR 2.981bn at the end of December 2015, representing a 21 percent growth.
“On the path to achieving the tenets of the Qatar National Vision 2030 and ensuring our shareholders the best possible returns, GWC’s growth is a direct result of our long-term plans and strategies, as well as our continued commitment towards our clients and developing bespoke infrastructure in the State of Qatar,” stated GWC Chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al-Thani. (pictured).
Developments at the company’s various facilities continue to move according to schedule, with the GWC Bu Sulba Warehousing Park at 87 percent rate of completion and on track for launch in Q1 2017. The finalization of the LVQ Phase V construction is also underway, with the 17,500 sqm distribution center, mosque, and recreational area completed by the end of the quarter, and the 28,000 sqm warehouse set to be completed by the end of November 2016. Meanwhile, the company’s various service offerings and departments continue to attract new revenue sources.
GWC Contract Logistics and Hazmat began work this quarter with a new transportation industry client, providing regular and Hazmat storage as well as open yard services. The contract logistics department also expanded the scope of several of its existing service agreements, including those in retail and food distribution and storage. GWC Forwarding has signed on to provide a new chemical production client door-to-door logistics contract, shipping their hazardous and non-hazardous material in and out of the country.
GWC Transport launched the services for a project providing a company in the chemical sector highly specialized transportation solutions for the movement of caustic soda and hydrochloric acid safely and securely within the country. The department procured 8 liquid chemical tankers dedicated for the use of this project.
GWC Relocation aided a well-known local real-estate property development by moving high-value furniture from existing apartments to new model apartments for display purposes .
GWC Sports was signed on to perform the venue management and sports logistics requirements of a major international event .
