Logistics major Gulf Warehousing Company (GWC) posted total revenues of QR1.5bn in 2023, the company announced on Tuesday.
The company earned a net profit of QR215mn while operating profit reached QR323mn with an asset base of QR5.2bn.
EPS for the year recorded was QR0.367.
GWC chairman, Sheikh Abdulla bin Fahad bin Jassem bin Jaber al-Thani said: “GWC’s performance is testament to our strategic initiatives, innovative solutions, and unwavering commitment to excellence. GWC Group is embarking 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 re-export hub, setting the stage for continued growth and innovation.”
The year was packed with key milestones for GWC, including the launch of GWC Energy, launch of phase-2 of Al Wukair Logistics Park, the 3rd annual GWC Forum, and recognition for being a leader in sustainability from Forbes, in addition to providing the logistics mandate for Expo 2023 Doha.
Group CEO Ranjeev Menon said: “With over 20 years of industry leadership, the GWC team has proven that commitment and diligence are the cornerstones of logistics excellence.”
Menon added: “Looking ahead, GWC remains poised for continued success and growth. The company's commitment to excellence, innovation, and sustainability will continue to drive its endeavours and contribute to the broader success of region's logistics sector.”
GWC has become the top logistics and supply chain solutions provider in Qatar and one of the fastest growing companies in the region.
Recently, GWC announced further expansion by launching its 100% owned subsidiary FLAG at the logistics hub at Khazaen Economic City in Oman.