Doha, Qatar–Gulf Warehousing Company posted a 10.24 percent drop in net profit to $59.07 million compared to $65.81 million last year.
Data issued by the company published Tuesday on the Qatar Stock Exchange (QSE) website showed that Earnings Per Share (EPS) declined to QR 0.37 in 2023 compared to EPS of QR 0.41 in the previous year.
The Board of Directors approved the distribution of dividends of QR 0.11 at a rate of 11 percent per share for the year 2023 and submitted the recommendation to the General Assembly for approval.
GWC Chairman, Sheikh Abdulla bin Fahad bin Jassem bin Jaber Al Thani, said: “GWC’s performance is testament to our strategic initiatives, innovative solutions, and unwavering commitment to excellence. GWC Group is embarking on an ambitious journey, exploring new markets, and diversifying its services.”
These strategic moves are reinforcing Qatar’s position as a regional and global logistics and reexport hub, setting the stage for continued growth and innovation.”
Last year was packed with key milestones for GWC, including the launch of GWC Energy, launch of phase-2 of Al Wukair Logistics Park, the 3rd annual GWC Forum, and recognition for being a leader in sustainability from Forbes, in addition to providing the logistics mandate for EXPO Doha 2023.
Gulf Warehousing Company was established in 2004 with a capital of $161 million.
