Qatar’s GWC posts net profit of $46.14m in 9M 2023
COMMERCIAL NEWS
GWC, Qatar’s leading logistics provider, posted a net profit of QR168 million ($46.14 million) in the nine-month (9M) period ending September 30, 2023.
The company posted a total revenue of QR1.14 billion (2% growth YoY) and operating profit of QR248 million (12% growth YoY). Earnings per share reached QR0.29 for the same period.
“This year, GWC Group embarked on an ambitious journey, exploring new markets, and diversifying its services. These strategic moves are reinforcing Qatar’s position as a regional and global logistics and reexport hub, setting the stage for continued growth and innovation,” said Sheikh Abdullah bin Fahad bin Jassim Bin Jaber Al Thani, Chairman of GWC Group.
Phase-2 of GWC Al Wukair Logistics Park
Ranjeev Menon, Group CEO, remarked: “The unveiling of Phase-2 of GWC Al Wukair Logistics Park, the landmark 1.5 million-sq m integrated logistics hub, during the third quarter is a major milestone for MSMEs landscape. This aligns with our forward-looking mandate and our commitment to Qatar National Vision 2030.”
He highlighted GWC's role as the official logistics service provider for Expo Doha Qatar 2023, underscoring the event's focus on sustainability. The Expo provides an exceptional platform for GWC to showcase its innovative and environment-friendly solutions, reshaping the logistics landscape.
GWC has reached a remarkable milestone, securing a prestigious top 10 position in Forbes 'Top 100 Middle East’s Sustainability Leaders' within the logistics and transport category. This achievement is a testament to our unwavering commitment to sustainability.--TradeArabia News Service
