Wednesday 21 February 2018
 
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Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al Thani

GWC posts net profit of $59m in 2017

DOHA, January 15, 2018

GWC, a leading logistics provider in Qatar, concluded 2017 with an increase of 4.7 per cent in net profits with QR215.5 million ($59.1 million), as compared with QR205.7 million in 2016.

The company posted gross revenues of QR966.9 million at the end of 2017, representing 13.8 per cent increase from QR849.5 million in 2016. The company’s assets continued to develop, with total assets reaching QR3.774 billion by the end of December 2017, compared with QR3.741 billion at the end of December 2016.

GWC chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al Thani stated: “This year of growth is a testament to the enduring dedication to our purpose: to set a world-class standard in logistics operations, while supporting Qatar (now, more than ever) in becoming a sustainable and diverse economy, and ensuring the best possible returns to our shareholders.”

GWC has moved forward on its various development initiatives in 2017, not the least of which is the launch of the GWC Bu Sulba Warehousing Park, the first of the country’s public-private partnerships to bear fruit. With an area of 517,375 sq m, the Park was completed and launched on schedule, and has provided the nation’s burgeoning SME sector with the best logistics infrastructure possible at the most competitive of pricing, achieving major occupancy of the Park since its opening earlier in 2017.

The company also saw developments in its various current facilities, with the completion of the Phase V expansion in the Logistics Village Qatar (LVQ) during the year, while GWC Ras Laffan Industrial City – West Side Service Area (RLIC-WSSA) hub was also expanded by 125,000 sq m, creating - in record time - a dedicated logistics supply base for a client in the oil & gas sector. – TradeArabia News Service




Tags: logistics | Qatar | GWC |

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