GWC 2018 net profit surges 10% to QR237.5mn
January 16 2019 09:01 PM
GWC Group CEO Ranjeev Menon and GWC chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor al-Thani
GWC Group CEO Ranjeev Menon and GWC chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor al-Thani


*Board recommends 19% cash dividend to shareholders

Driven by its long-term growth strategy, Qatar’s leading logistics provider GWC posted a net profit of QR237.5mn in 2018, up 10% on the previous year.

In 2017, GWC had registered a net profit of QR215.4mn.

GWC’s board of directors has recommended 19% cash dividend to shareholders, which is subject for approval during the company’s Annual General Meeting to be held on February 4.

The company’s gross revenues reached QR1.23bn in end-2018 in comparison with QR981.3mn in 2017.

EPS increased to QR4.04 at the end of 2018, compared to QR3.68 at the end of 2017.

GWC chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor al-Thani said, “Such an achievement reflects the success of our long-term strategy, while supporting the Qatar National Vision 2030 in becoming a sustainable and diverse economy, and ensuring the best possible returns to our shareholders.”

GWC witnessed a number of achievements within the company’s various departments in 2018. GWC's contract logistics, forwarding, transport, records management and projects departments have made major in-roads in developing contracts with clients in the oil and gas, government, FMCG, and retail sectors, while relocations, fine art, equestrian logistics scored high with clients, locally and internationally.

The company also pursued new ventures by adding LEDD Technologies, a technology services and solutions provider aiding local business transformation, and launched GWC Marine operations, offering shipping agency services that meets the economy’s growing needs.

Meanwhile, as the authorised service contractor for UPS in Qatar, and through its massive logistical infrastructure and human capital, GWC has been assigned the agent for UPS Supply Chain Solutions in Qatar.

"Our purpose-driven values of innovation and performance continue to propel us forward in 2018, maintaining and developing our position as the preferred logistics provider in the State of Qatar, and thereby ensuring the best possible returns for our shareholders," said Ranjeev Menon, GWC Group CEO.

The company’s commitment to excellence was recognised by Microsoft and received the “Digital Transformation Award” for its outstanding achievements in leading the company’s digital transformation.

GWC was also recognised by the Qatar Green Building Council for its efforts at contributing to a greener lifestyle, sustainable development, and environmental protection both in Qatar and internationally.

Established as a Qatari public shareholding company in 2004, GWC offers high-quality warehousing and distribution services, hazmat logistics, freight forwarding, project logistics, sports and event logistics, equestrian logistics, fine art logistics, supply chain consulting, transportation management, records management, and door-to-door moving and relocation services.

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