Stellar 2023 results for GWC, with a net profit of USD 59.1M and USD 410M in revenue, reinforce Qatar’s global logistics standing as the company expands to Oman.
Logistics firm Gulf Warehousing Company (GWC) proudly announces a net profit of QR215 million ($59.1 million) for the fiscal year 2023, coupled with a commendable revenue of QR1.5 billion ($410 million). With a total operating profit of QR323 million and an impressive asset base of QR5.2 billion, GWC has solidified its position as one of the fastest-growing firms in the MENA region.
The company’s strategic initiatives, innovation, and commitment to excellence have propelled it towards new markets, diversifying services and reinforcing Qatar’s status as a global logistics and re-export hub.
Under the leadership of GWC Chairman, Sheikh Abdulla Bin Fahad Bin Jassem Bin Jaber Al Thani, the company’s earnings per share (EPS) for 2023 stand at QR0.367. Chairman Al Thani attributes GWC’s stellar performance to strategic initiatives, innovative solutions, and an unwavering commitment to excellence.
As GWC looks forward to an ambitious journey, exploring new markets and diversifying services, Sheikh Abdulla Bin Fahad Bin Jassem Bin Jaber Al Thani emphasizes the importance of these strategic moves in reinforcing Qatar’s position as a regional and global logistics and re-export hub. These endeavors set the stage for sustained growth and innovation.
GWC’s 2023 was marked by significant milestones, including the launch of GWC Energy, the inauguration of phase-2 at Al Wukair Logistics Park, the successful 3rd annual GWC Forum, and prestigious recognition from Forbes as a leader in sustainability.
Ranjeev Menon, Group CEO, said, “Over 20 years of industry leadership, the GWC team has proven that commitment and diligence are the cornerstones of logistics excellence.”
Menon added: “Looking ahead, GWC remains poised for continued success and growth. The company’s commitment to excellence, innovation, and sustainability will continue to drive its endeavors and contribute to the broader success of region’s logistics sector.”
GWC’s expansion into Oman
In a recent development, GWC inaugurated its FLAG subsidiary at Khazaen Economic City in Oman, reflecting the company’s commitment to expanding its footprint and contributing to the economic landscape of the region.
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