Qatar logistics giant GWC posts Q1 net profit of $17m
INDUSTRIAL NEWS
GWC, Qatar’s leading logistics provider, has posted net profits of QR61.5 million ($17 million) for the first quarter of 2023.
The company’s gross revenues registered QR412.7 million, earnings per share of QR0.105, and total assets of QR4.8 billion for the same period.
“GWC will continue to remain committed to diversifying our offerings with the aim of further strengthening Qatar’s position as a global and regional logistics hub,” said Sheikh Abdullah Bin Fahad Bin Jassim Bin Jaber Al Thani, Chairman, GWC.
Expanding footprint
Ranjeev Menon, Group CEO, said: “We are optimistic about the future and will be expanding GWC’s footprint in the region this year by offering innovative and specialised end-to-end logistics solutions.”
“We are currently finalising the second phase of the Al Wukair Logistics Park, and this will go a long way in enabling MSMEs in Qatar promoting diversification,” he added.
2023 started with GWC being accredited as GCC Authorised Economic Operator Programme by the General Authority of Customs in Qatar, adding another statement as it pursues its mission to deliver unrivalled value to its clients.
This comes as a progression to GWC becoming the first logistics company in Qatar to receive the Authorised Economic Operator (AEO) certification in customs clearance category in 2021 and being the named the “Best Customs Clearance Company in Qatar” by the General Authority of Customs.
ISO Risk Management Standard
GWC was also awarded the “ISO 31000:2018 Record of Verification” certification by LRQA for Enterprise Risk Management (ERM) System, after a thorough assessment, which found the company in full compliance with the guidelines provided by ISO Risk Management Standard.
To add to this, GWC was facilitated as the “Best Logistics Systems Operator” at the inaugural International Chambers of Commerce (ICC) C4DTI Digital Trade Awards held in London, UK.
The Award comes as a reaffirmation of the ground-breaking logistics mandate provided by GWC during the FIFA World Cup Qatar 2022TM. Through its Master Delivery Schedule (MDS) project, GWC was able to prioritise deliveries, minimise unplanned deliveries and reduce bottlenecks.
“These accreditations and certifications are testament to GWC’s diligence and commitment to innovation and safety, coupled with a strong focus on accountability, and responsibility. These accolades belong also to our clients and stakeholders whose unwavering trust and confidence in GWC made all these achievements possible,” Menon remarked.-- TradeArabia News Service
