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Qatar logistics firm GWC's net profit up 4pc

DOHA, July 22, 2017

GWC, a leading logistics provider based in Qatar, said it has registered a net profit of QR105.3 million ($29 million) for the first half of 2017, up four per cent over QR101.3 million ($27.7 million) for the same period last year.

This growth was mainly due to the company’s judicious leverage of its revenue streams, which surged to QR455 million at the end of the period, recording a six per cent increase from QR430.1 million the previous year.

Constantly seeking the best interest of its shareholders, the company’s earnings per share also increased to QR1.8 in the first six months of 2017, a rise from QR1.76 during the same period in 2016.

On the results, chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al Thani, said: "Every effort has been taken so that the company serves the needs of the state, particularly during the current circumstances."

"We continue to search for alternatives and take all steps necessary to ensure the safe delivery of cargo to our clients and to the nation, realizing our purpose to remain the provider of choice for logistics services in Qatar, and thereby ensuring our shareholders the best possible returns," he noted.

The company’s various divisions have taken decisive action to maintain optimal operations across the board, reviewing alternative routes, and leveraging the strength of its international freight network through its partner Agility, in addition to remaining the authorized service contractor for the international courier giant, UPS, he added.




Tags: Qatar | Net Profit | Logistics firm | GWC |

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