Dubai-based GAC, a leading global provider of shipping, logistics, marine and related services, expects a growth of 13 per cent in operating income in 2009.

The group affirmed at a meeting of more than 250 company managers in Dubai that it will continue with its five-year growth strategy despite the present global downturn.

The company has experienced substantial growth over the past three years both in revenue and geographical reach, the three-yearly meeting was told.

“Times may be bad but they are not equally bad nor are they bad everywhere,” said GAC group president Lars Säfverström. “We expect our operating income to grow by 13 per cent in 2009 and our port call volumes to reach 60,000 for the year.

“Marine service remains solid and while our logistics and freight forwarding operations are clearly being affected by the global conditions, we still expect to see growth in that business area.”

Säfverström told the management meeting that the coming years would see stronger emphasis on clear and open corporate governance and a greater commitment to high ethical standards.

“I expect being ethical to align with being profitable as we go forward into the second decade of this century,” he said.

Säfverström said there would be increased focus on improving and refining internal processes to ensure more effective customer service.

“In the end our task is simple,” he emphasized. “We have to stay close to our customers and, in these testing times, become highly innovative in our service offerings and in the cost savings that customers are looking for.” – TradeArabia News Service