GWC Announces 12% Growth in Operating Profits for Third Quarter of 2023
Qatar’s leading logistics provider, GWC (QPSC), announced its third-quarter financial results for 2023.
During the nine-month period ending 30 September, the company posted a total revenue of QAR1,136 million (2% growth year-on-year), an operating profit of QAR248 million (12% growth year-on-year), and a net profit of QAR168 million. Earnings per share reached QAR0.29 for the same period.
New markets, diversified services
According to GWC Group Chairman Sheikh Abdullah Bin Fahad Bin Jassim Bin Jaber Al Thani, they embarked on an ambitious journey this year, exploring new markets and diversifying their services. He said that these strategic moves reinforce Qatar’s regional and global logistics and reexport hub position, setting the stage for continued growth and innovation.
Group CEO Ranjeev Menon remarked that the unveiling of the landmark 1.5 million-sqm integrated logistics hub – the GWC Al Wukair Logistics Park Phase-2 – during the third quarter is a significant milestone for the MSME landscape, which he said aligns with their forward-looking mandate and commitment to Qatar National Vision 2030.
Menon also expressed pride in GWC’s strategic plan and their significant progress in achieving their goals, with a strong emphasis on innovation and a people-centric approach. He also highlighted GWC’s role as the official logistics service provider for Expo 2023 Doha, underscoring the event’s focus on sustainability.
The Expo provides an exceptional platform for GWC to showcase its innovative and environmentally friendly solutions that are reshaping the logistics landscape.
GWC has reached a remarkable milestone, securing a prestigious Top 10 position in the Forbes ‘Top 100 Middle East’s Sustainability Leaders’ within the logistics and transport category. This achievement is also a testament to their unwavering commitment to sustainability.
In addition to the company’s growth and sustainability endeavour, GWC conducted its annual blood donation drive last month as part of its CSR commitment. The blood donation drives reflect GWC’s ongoing support for the Qatar community and dedication to fostering a culture of social responsibility among its employees.
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