Gulf Warehousing Company (GWC) held its ordinary general assembly meeting at the company’s Ras Bufontas Free Zone facility Wednesday.
The AGM was chaired by GWC chairman Sheikh Mohammed bin Hamad bin Jassim bin Jaber al-Thani.
The AGM approved all items on the agenda, including the Board’s recommendation to distribute a cash dividend of QR0.10 per share, equivalent to 10% of the nominal share value.
It also ratified the Board of Directors' report on the company’s activities and financial position for the fiscal year ending December 31, 2024, along with the external auditor’s report, absolving the board members from liability and ratifying the annual corporate governance report.
Sheikh Mohammed said, “The company has solidified its position as a leader in the logistics and supply chain solutions sector, consistently improving its performance by adopting innovative solutions and adhering to global best practices. This has been accomplished while simultaneously enhancing the agility of our business model to ensure sustained profitability and improve adaptability to dynamic operational changes.
“For the year ending December 31, 2024, the company achieved strong financial results, with record annual gross revenues of QR1.582bn, operating profits of QR306mn, a net profit of QR172mn, while earnings per share stood at QR0.293. The Board has recommended a 10% cash dividend, at QR0.10 per share, as part of its commitment to maximise shareholder value.”
GWC Group managing director Sheikh Abdulla bin Fahad bin Jassim bin Jaber al-Thani said, “The company has successfully solidified its position in the logistics sector both locally and regionally. This is the result of a carefully executed strategy primarily focused on expanding into new sectors and markets, diversifying revenue streams, increasing market share, and mitigating potential risks, which is reflected in the financial results and the sustained profits achieved in 2024.
“GWC will continue to implement its strategy in 2025 to ensure operational excellence and efficiency while maintaining customer satisfaction at all highest levels.”
GWC’s Acting Group CEO Matthew Kearns stated, "Our focus at GWC is to drive innovation in the logistics sector by developing and adopting the latest technological advancements, whilst maintaining a strong commitment to sustainability and social responsibility.
“We are also committed to supporting local initiatives and empowering micro, small and medium-sized enterprises (MSMEs), to support wider industry development in Qatar and the region. This strategy has cemented GWC’s unique offering and its position as a leader in the logistics and supply chain industry across the region."
GWC remains at the forefront as the premier provider of warehousing and distribution solutions across diverse sectors, offering services to entrepreneurs, MSMEs, as well as multinational companies.
The company’s contributions to the logistics sector were recognised with multiple awards in 2024.
Gulf Warehousing Company held its ordinary general assembly meeting at the company’s Ras Bufontas Free Zone facility onwedned. The AGM was chaired by GWC chairman Sheikh Mohammed bin Hamad bin Jassim bin Jaber al-Thani.
