GWC Posts 9% Growth in 2019, QAR249.1 Million in Net Profit
GWC concluded 2019 with a 9% surge in net profit, equivalent to QAR249.1 million, as compared with QAR227.6 million during the same period in 2018.
The company’s Board has recommended a 20% cash dividend to shareholders, subject for discussion and approval in their Annual General Meeting on 3 February. The gross revenue of the company reached QAR1.2 billion at the end of 2019, while EPS increased to QAR0.43, compared to QAR0.39 at the end of 2018.
According to GWC chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al Thani, they are pursuing all opportunities to ensure they remain the provider of choice for innovative logistics and supply chain solutions. He said that their support for Qatar has formed the building blocks of the company’s operational excellence.
The company’s comprehensive solutions have set a benchmark for logistics excellence in the market, which in turn has led to new contracts and opportunities. One such opportunity was the agreement with FIFA, which made GWC the first Official National Supporter of the FIFA Club World Cup Qatar 2019™. GWC was entrusted to carry out the complex logistics requirements for the tournament as its official logistics provider.
The company’s continued excellence in developing logistics infrastructure, such as the Logistics Village Qatar, the GWC Bu Sulba Warehousing Park, and the oil and gas client-specific logistics bases in Ras Laffan Industrial City, also led to a new ‘Develop-Build-Finance-Operate-Transfer’ contract with Manateq for the establishment of the 1.48 million square metre Al Wukair Logistics Park.
GWC has earned the trust of the market by delivering the best in logistics and supply chain solutions following the highest quality, health, safety, security, and environment standards. The company celebrated several safety milestones in 2019, with 1000 days at the RMOP base and 730 days at the WSSA facility with no loss-time-injury, all while maintaining the exacting safety standards required by the oil and gas industry.
GWC Group CEO Ranjeev Menon said that their strong track record of customer approval has created an impressive rate of client retention while attracting new customers from all market segments. This, as they continue to work together to achieve the nation’s strategies, create a sustainable and diverse economy – an environment that will ensure the best returns for investors.
For more information about GWC, visit gwclogistics.com.