GWC (Q.P.S.C.) said yesterday that its net profit for the financial year 2020 reached QR236m, with gross revenues reaching QR1.233bn at the end of 2020, and EPS at QR0.40 by the end of the same period. The Company’s Board has recommended 10 percent cash dividend to shareholders which is subject for discussion and approval during the company’s Annual General Meeting scheduled to be held on February 15, 2021. 

“We are pleased with our performance this year, we will point back in the future to 2020 as a year in which Qatar stood stronger, more diverse and more resilient as a nation, God willing. Thanks to everyone who entrusted GWC to meet this year’s challenge and prove that we have the ability to stretch our capacities and deliver under the most difficult circumstances,” GWC Chairman, Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al Thani stated.

“We present our gratitude to the frontline workers, not only in hospitals and public health care centres, but also those working in the service industry, from the top of the pyramid to the bottom, whether at the ports, the warehouses, and everywhere else. Their work has maintained the nation’s progress, and we appreciate the commendable sacrifices, and hope we may, in our simplest of ways, have performed our duty in this pursuit, and look forward to a world blessed with peace and safety in the coming years,” he added.

In an unprecedented year, the logistics sector shone through as a critical infrastructure ensuring the continuity and safety of the nation and its economy. As the leading logistics provider in the State of Qatar, GWC has succeeded in supplying the public and private sectors in Qatar with lean, reliable and global standard logistics solutions that have kept the country moving.

Facing incredible challenges common to businesses around the world, not least in the area of import and distribution, GWC was able to succeed in 2020 by drawing on its experience with crises – particularly the disruption of the 2017 blockade. Facing the pandemic challenge head-on, GWC quickly employed its business continuity plan which ensured that urgent requirements such as shipping, transporting, storing, distributing, and managing assets including medical equipment, pharmaceuticals and personal protective equipment (PPE), essential food security products and other vital goods were handled in accordance with international standards and regulations.

GWC also ensured a quick response to the extraordinary circumstances in the Industrial Area in the early days of the pandemic. The company was able to coordinate closely with authorities to evacuate client goods behind lockdown lines to ensure business stability.

Supporting the local business community, GWC provided discounts on rentals and offered special customs clearance and transport services for SMEs in the GWC Bu Sulba Warehousing Park working in the health care and food security sectors. The company also offered six-month waivers on rents to the retail outlets and rental discounts offered for 9 months to all SME clients at the GWC Bu Sulba Warehousing Park.

Ending the year on a high note, GWC underlined its critical role in the nation’s medical cold supply chain, ensuring the safe delivery of the COVID-19 vaccine from airport to injection site, as the Authorized Service Contractor of UPS in the State of Qatar.

GWC’s investment in infrastructure mirrors that of the government, which has developed new ports, new warehouses and new transport modes to meet growing demand in the country. Coupled with increasingly sophisticated technical and software integrations, these investments will ensure that new challenges will be met seamlessly. 

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