Qatar's GWC Logistics Records Revenues of $144 Million for Q1 2023
GWC Logistics, Qatar’s leading logistics provider, has announced its financial results for the first quarter of 2023.
During the three-month period ending 31 March 2023, the company posted net profits of $17 million. The company gross revenues registered $114 million, and total assets of $1.32 billion for the same period ending 31 March 2023.
“GWC will continue to remain committed to diversifying our offerings with the aim of further strengthening Qatar’s position as a global and regional logistics hub,” Sheikh Abdullah Bin Fahad Bin Jassim Bin Jaber Al Thani, Chairman, GWC stated.
Adding to this, Ranjeev Menon, Group CEO, said: “We are optimistic about the future and expanding GWC’s footprint in the region this year by offering innovative and specialized end-to-end logistics solutions.
“We are currently finalizing the second phase of the Al Wukair Logistics Park, and this will go a long way in enabling MSMEs in Qatar promoting diversification.”
2023 started with GWC being accredited as GCC Authorized Economic Operator Program by the General Authority of Customs in Qatar, adding another statement as it pursues its mission to deliver unrivalled value to its clients.
This comes as a progression to GWC becoming the first logistics company in Qatar to receive the Authorized Economic Operator (AEO) certification in customs clearance category in 2021 and being the named the “Best Customs Clearance Company in Qatar” by the General Authority of Customs.
GWC was also awarded the “ISO 31000:2018 Record of Verification” certification by LRQA for Enterprise Risk Management (ERM) System, after a thorough assessment, which found the company in full compliance with the guidelines provided by ISO Risk Management Standard.
To add to this, GWC was facilitated as the “Best Logistics Systems Operator” at the inaugural International Chambers of Commerce (ICC) C4DTI Digital Trade Awards held in London, United Kingdom.
The Award comes as a reaffirmation of the ground-breaking logistics mandate provided by GWC during the FIFA World Cup Qatar 2022TM. Through its Master Delivery Schedule (MDS) project, GWC was able to prioritise deliveries, minimise unplanned deliveries and reduce bottlenecks.
Ranjeev Menon, Group CEO, GWC remarked: “These accreditations and certifications are testament to GWC’s diligence and commitment to innovation and safety, coupled with a strong focus on accountability, and responsibility.
"These accolades belong also to our clients and stakeholders whose unwavering trust and confidence in GWC made all these achievements possible.“