Logistics leader posts strong 2024 performance, marks 20 years
Gulf Warehousing Company Q.P.S.C (GWC), a key player in the MENA region’s logistics industry, has reported robust financial results for 2024. The company achieved revenues of QAR1.582 billion ($433.97 million) and posted a net profit of QAR172 million ($47.18 million), with earnings per share at QAR0.293. GWC’s Board of Directors has recommended a 10% cash dividend, equivalent to QAR0.10 per share.
20 Years of Growth
Marking its 20th anniversary, Sheikh Mohammed Bin Hamad Bin Jassim Bin Jaber Al Thani, GWC Chairman, emphasized the company’s focus on delivering sustainable, long-term returns for shareholders while expanding operations across various regions and sectors.
Sheikh Abdulla Bin Fahad Bin Jassim bin Jaber Al Thani, GWC Managing Director, highlighted the company’s strategic goals of operational efficiency, regional expansion, and diversification. These efforts aim to maintain stable cash flow, mitigate risks, and drive profitability.
GWC Regional Expansion Initiatives
GWC made significant advancements in 2024, including:
- Saudi Arabia Expansion: Signed a Head of Terms with GFH Financial Group to develop 200,000 sq m of Grade ‘A’ logistics facilities in Riyadh, Jeddah, and Dammam.
- Strategic Partnership in Ras Al-Khair: Partnered with Saudi Offshore Fabrication Company (OFC) to develop 100,000 sq m of logistics facilities.
- Oman Expansion: Launched the FLAG logistics hub in Khazaen Economic City, bolstering its footprint in the GCC region.
GWC Supporting MSMEs and Entrepreneurship
GWC’s Al Wukair Logistics Park continued its mission to empower micro, small, and medium-sized enterprises (MSMEs). With more than 900 warehousing and light industry units in operation, the park fosters entrepreneurship and strengthens local partnerships.
Matthew Kearns, Group Acting CEO, reiterated GWC’s commitment to excellence and its leadership in warehousing and distribution solutions for diverse sectors.
Industry Recognition
In 2024, GWC launched numerous initiatives and earned accolades for its service quality, reinforcing its reputation as a premier logistics provider in the region.