(MENAFN- Gulf Times) Qatar";s leading logistics provider GWC has posted a net profit of QR150mn at the end of the third quarter, up 11% on the same period last year. Total revenues also grew to QR634mn, a 4% increase on QR608mn registered in third quarter of 2015.
GWC";s assets continued to develop, with total assets reaching QR3.61bn in September 2016, compared with QR2.98bn at the end of December 2015, representing a 21% growth.
GWC chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor al-Thani said, 'On the path to achieving the tenets of the Qatar National Vision 2030 and ensuring our shareholders the best possible returns, GWC";s growth is a direct result of our long-term plans and strategies, as well as our continued commitment towards our clients and developing bespoke infrastructure in Qatar.”
Developments at the company";s various facilities continued to move according to schedule, with the GWC Bu Sulba Warehousing Park 87% completed and on track for launch in Q1, 2017, the company said. The finalisation of the LVQ Phase V construction is also underway, with the 17,500 sq m distribution centre, mosque, and recreational area completed by the end of the third quarter, and the 28,000 sq m warehouse set to be completed by November.
Meanwhile, the company";s various service offerings and departments continue to attract new revenue sources. GWC Contract Logistics and Hazmat began work this quarter with a new transportation industry client, providing regular and Hazmat storage as well as open yard services.
The contract logistics department also expanded the scope of several of its existing service agreements, including those in retail and food distribution and storage.
GWC Forwarding has signed on to provide a new chemical production client door-to-door logistics contract, shipping their hazardous and non-hazardous material in and out of the country.
GWC Transport launched the services for a project providing a company in the chemical sector highly specialised transportation solutions for the movement of caustic soda and hydrochloric acid safely and securely within the country. The department procured eight liquid chemical tankers dedicated for the use of this project.
GWC Relocation aided a well-known local real-estate property development by moving high-value furniture from existing apartments to new model apartments for display purposes as part of their push for tenants.
GWC Sports was signed on to perform the venue management and sports logistics requirements of a major international event taking place this fall in Qatar, while GWC Fine Art also landed two new major exhibitions held in Doha.
'The developments and growth achieved in GWC";s various departments is a signal of the stable position the country holds amidst a changing economic climate, and of GWC";s readiness to serve as the country";s leading provider of innovative logistics and supply chain solutions,” Sheikh Abdulla said.
GWC is the leading provider of logistics and supply chain solutions in Qatar. Established as a Qatari shareholding company in 2004; the company 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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