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GWC posts net profit of QR50.5 mn in first three months of 2017

GWC posts net profit of QR50.5 mn in first  three months of 2017

Tribune News Network
Gulf Warehousing Company (GWC) posted net profit of QR50.5 million in the first three months of 2017 against QR46.5 million from a year ago.
Its revenue streams gained QR222.7 million at the end of the first quarter compared with QR220 million in the same period last year.
"All efforts have been made to ensure that the company serves the needs of the country as it transitions from an oil-dependent economy to a stable contributor to global wealth and trade, an essential element in achieving the Qatar National Vision 2030," said GWC Chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor al Thani.
"It is through this lens that we found, in the current climate, a wealth of opportunity to develop, innovate, and prosper, thereby recompensing our stakeholder's investment and trust in us."
GWC's most recent contribution towards economic diversification has been the GWC Bu Sulba Warehousing Park ” the first of the country's public-private partnerships to bear fruit. The company completed the project on time in the beginning of this year.
"The warehousing park was conceived and is dedicated to serving the needs of the country's growing SME sector by providing them the best possible logistics infrastructure and the benefit of the company's experience in delivering world-class supply chain solutions," GWC said in a statement.
Further adding to the company's revenues has been the participation of the company's various departments in developing new revenue streams, including coordination between the various departments.
To that end, a major telecommunications client was recently signed on to receive services from the company's contract logistics, freight, and records management department.
"To maintain the best services possible, the company has internally established a number of policies and procedures intended to optimise performance and protect against possible risk," the GWC statement said.