(MENAFN - Gulf Times) GWC has earned a first quarter net profit of QR56.7mn, up 12% on the same period in 2017. The company's revenue streams gained QR311.6mn at the end of the first quarter compared with QR222.7mn in Q1, 2017, an increase of 40%.
Earnings per share (EPS) increased to QR0.97 by the end of Q1, 2018, a 12% increase from QR0.86 at the end the same period in 2017.
GWC chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor al-Thani said, 'Our commitment to the diversification of the economy and the objectives of the Qatar National Vision 2030 has served us well, making us the largest provider of Qatar's private logistics infrastructure.
'With its proven foundations of infrastructure and innovative systems and solutions, the company has stood by the nation through the extraordinary circumstances it experienced lately, realising our purpose to remain the provider of choice for logistics services in Qatar, and thereby ensuring our shareholders the best possible returns.
GWC has achieved this growth due to increasing operational and financial efficiencies, as well as expanding on its existing contract base.
The company also completed key Fine Art logistics projects within the State of Qatar, including a major operation at the national airport.
Further proving its own capabilities and those of the nation, the company was a leading participant in the country's inaugural 'Qatar Self Sufficiency Exhibition, a forward-thinking exhibition bringing together influential leaders and decision makers to demonstrate the innovations and solutions that will serve the needs of the nation.
Sheikh Abdulla said, 'The company will continue to rely on the strength and stability made possible by our well-established infrastructure and by our highly skilled and loyal employee base as we set our strategies for the future.