GWC Announces H1 2016 Financial Results

Doha, July 23 (QNA) - Gulf Warehousing Company (GWC) concluded the first half of 2016 with a steady rate of growth of 15% in its net profits, achieving QAR 101.3 million, as compared to QAR 87.7 million by the end of the same period in 2015. The companys revenue streams had an equally consistent rise despite challenging market conditions, with total revenues peaking at QAR 430.1 million at the end of the quarter, an 8% increase from QAR 397.9 million in the first half of 2015. The earnings per share registered for the period was QAR1.76 as compared to QAR 1.70 during the same period of 2015. The companys assets continued to develop, with total assets reaching QAR 3.297 billion by the end of June 2016, compared with QAR 2.981 billion at the end of December 2015, representing an 11% growth. GWC Chairman HE Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al-Thani. commented saying" "By exploring new markets and maintaining our commitment to the tenets of the Qatar National Vision 2030, we continue to achieve our purpose and remain the provider of choice for logistics services in Qatar, and thereby ensuring our shareholders the best possible returns." (QNA)