GWC posts $30m profit in H1

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GWC posts $30m profit in H1

Jul 21, 2020 5:34 PM

GWC Qatar s leading logistics provider registered QR109.5 million ( 30.07 million) net profits in the first half of 2020 while gross revenues reached QR598.6 million by the end of June 2020. Earnings per...

GWC, Qatar’s leading logistics provider, registered QR109.5 million ($30.07 million) net profits in the first half of 2020, while gross revenues reached QR598.6 million by the end of June 2020.

Earnings per share got QR0.19 in the first six months of 2020.

“GWC stands on the solid foundations of our infrastructure and our excellence in service, we will continue to work with the business community to ensure best growth for the company, while ensuring best possible returns shareholders,” stated GWC Chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al-Thani.

During the lockdown, GWC was present at the frontlines, making every effort to support the nation, its residents and the local business community. Committed staff has handled and distributed food, consumables, medical, and other goods to various parts of Qatar through the company’s strategically distributed network and the largest transportation fleet in the country, in addition to the advanced IT capabilities available to the company and which it continues to develop. These logistics services were offered to industries as diverse as food and FMCG, oil and gas, medical, and other essential industries, the company said.

GWC’s operations were able to continue unabated despite the pandemic because it had invested in a Business Continuity Plan that was invoked with immediate effect upon learning of the outbreak. This helped guide the company as it adjusted to the new reality, ensuring operations ran smoothly as well as securing long-term plans’ execution.

“GWC continues to prove its commitment to supporting the sector in response to the pandemic and its repercussions, offering 24/7 support crucial operations, as well as its continuing work to support the SME sector at its logistics hubs,” stated GWC Group CEO Ranjeev Menon.

GWC’s infrastructure projects continue to make progress on schedule, with both GWC UPS Distribution Center in the Qatar Free Zone and the Al Wukair Logistics Park, both underway, and the first approaching completion. The Al Wukair Logistics Park was announced at the end of 2019, a 1.5 million sq m logistics park offering warehousing, workshops, and light industry manufacturing capabilities with access to GWC’s full range of logistics offerings. - TradeArabia News Service

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