Gulf Warehousing Company (GWC), a leading logistics provider, has achieved net profits of QR237.5 million ($65.23 million) in 2018, representing an increase of 10 per cent in comparison with QR215.4 million ($59.16 million) in 2017.
The company’s gross revenues, meanwhile, reached QR1.232 billion ($338.39 million) at the end of 2018 compared with QR981.3 million ($269.533 million) in 2017, said a statement.
The earnings per share (EPS) increased to QR4.04 ($1.11) at the end of 2018, in comparison with QR3.68 ($1.01) at the end of 2017, it said.
GWC yesterday (February 4) held its Ordinary and Extraordinary Assembly General Meeting and approved the group's financial results for the year ended December 31.
The meeting was held in the Four Seasons Hotel Doha, and chaired by GWC chairman Sheikh Abdullah bin Fahad bin Jassem bin Jabor Al Thani and was attended by representatives of the Ministry of Commerce and Industry, GWC’s external auditors KPMG, the company’s shareholders, and media representatives, said a statement.
The General Assembly ratified all items on its agenda including the proposal by the board of directors to distribute a cash dividend of 19 per cent the nominal share value (QR1.9 per share), it said.
The general assembly following a year of achievement for the company, starting with the company entering a management agreement with Al Asmakh Real Estate, placing the Bu Fesseela Warehousing Park under GWC's management.
The company also launched a number of new services, while maintaining its presence in the market through its established solutions. Among those recently established were LEDD Technologies, a wholly owned subsidiary of GWC, offering technology services and solutions, said a statement.
GWC also launched GWC Marine operations to offer shipping agency services. Meanwhile, the company’s contract logistics, forwarding, and projects departments have made major in-roads in developing contracts with clients in the oil and gas, government, broadcasting, and sports sector. – TradeArabia News Service
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