A warehouse at Logistics Village Qatar

A warehouse at Logistics Village Qatar

GWC net profits climb 31.9pc

Qatar, in the midst of a bustling commercial phase, is keeping the warehousing firm busy and expectations are that the tempo will rise further in coming months

November 2015

Gulf Warehousing Company (GWC), a leading logistics provider in Qatar, has registered a growth rate in its net profits for the first nine months of the year at 31.9 per cent, achieving QR135.1 million ($37 million), as compared to QR102.4 million during the period last year.

Earnings per share rose to QR2.84 during this period, shaping an increase of 32 per cent compared with the 2014 results of QR2.15, said a statement.

Sheikh Abdulla bin Fahad Al Thani, chairman, said: “Such a consistent rate of return, and the stability that we have been able to maintain during a time of change, is a sign of solid leadership and resilient infrastructure.

“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.”

Meanwhile, to assure the continuity of operations and expansion plans, the company is set to increase its capital through offering new shares raising QR457.7 million ($125.6 million), after the GWC board of directors had the increase approved during the company’s extraordinary general assembly Meeting held in September.m

The subscription period for eligible shareholders will start on November 8 and end on November 25.

Since its establishment in 2003, the company has developed over 420,000 sq m of warehouses and distribution centres. GWC’s main location at Logistics Village Qatar has 308,196 sq m of warehouses and distribution centres, 59,000 sq m of open yards and a container yard of 48,000 sq m.

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