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Tribune News Network
Doha
Gulf Warehousing Company (GWC), Qatar’s leading logistics provider, reported a 10 percent surge in 2018 net profit to QR237.5 million, compared to QR215.4 million in 2017, the company said in a statement on Wednesday.
The company’s board has recommended to distribute 19 percent of cash dividend to shareholders, which is subject for approval during the company’s annual general meeting to be held on February 4, 2019, the statement said.
Gross revenues of the company reached QR1.23 billion at the end of 2018, compared to QR 981.3 million earned at the end of 2017.
Earnings per share (EPS) increased to QR4.04, compared to QR 3.68 at the end of 2017.
“Such an achievement reflects the success of our long-term strategy, while supporting Qatar National Vision 2030 in becoming a sustainable and diverse economy, and ensuring the best possible returns to our shareholders,” said GWC Chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor al Thani.
The year 2018 has witnessed a number of achievements within the company’s various departments, as GWC’s contract logistics, forwarding, transport, records management and projects departments have made major in-roads in developing contracts with clients in the oil and gas, government, FMCG, and retail sectors, while relocations, fine art, equestrian logistics scored high with clients locally and internationally.
The company also pursued new ventures by adding LEDD Technologies, a technology services and solutions provider aiding local business transformation, and launched GWC Marine operations, offering shipping agency services that meets the economy’s growing needs.
As the authorised service contractor for UPS in Qatar, and through its massive logistical infrastructure and human capital, GWC has been assigned the agent for UPS Supply Chain Solutions in Qatar, the statement said.
“Our purpose-driven values of innovation and performance continue to propel us forward in 2018, maintaining and developing our position as the preferred logistics provider in Qatar, and thereby ensuring the best possible returns for our shareholders,” said Ranjeev Menon, Group CEO of GWC.
The company’s commitment to excellence was recognised by Microsoft and received the “Digital Transformation Award” for its outstanding achievements in leading the company’s digital transformation.
GWC was also recognised by the Qatar Green Building Council for its efforts contributing to a greener lifestyle, sustainable development, and environmental protection both in Qatar and internationally.
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17/01/2019
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