(MENAFN- Gulf Times) Driven by "strong" revenue streams, leading logistics provider Gulf Warehousing Company (GWC) has posted a net profit of QR140.3mn in 2014, up 38% on the previous year.
In 2013, GWC registered a net profit of QR101.6mn.
The company's revenue streams peaked at QR673.3mn in 2014, an increase of 28% compared with QR527.3mn in 2013.
Earnings per share rose to QR2.95 at the end of 2014, a remarkable increase of 38% compared with QR2.14 in 2013.
Gulf Warehousing Company's total assets also saw exponential growth during 2014, rising to QR2.1bn, a growth of 11.8% compared to its holdings in 2013, which amounted to QR1.88bn.
GWC said it "approached its assets strategically, making expansion decisions that would best benefit the market and its clientele."
Bu Sulba Logistics Hub became GWC's "biggest achievement" in 2014, with the company winning the contract for the 517,376 square metre site, which is one of Gulf Warehousing Company's biggest sites constructed to date, second only to the Logistics Village Qatar.
Additionally, the Logistics Village Qatar (LVQ) developed a further 81,000 square metres, adding to an already "impressive" array of warehousing and distribution infrastructure during its fourth phase expansion during last year's third quarter. The company said it intends to further supplement its one-stop shop, immediately operational fully integrated logistics infrastructure through a fifth expansion phase currently at the tendering stage.
GWC also expanded on its industry specific assets, working to add nearly 65,000 square metres of facilities at its Ras Laffan Industrial City (RLIC) site, which will provide a new temperature-controlled warehouse, a new open yard, and one of the first ISO tanks in the nation.
"This constant development of our assets as well as seeking to meet our client needs are part of an overarching strategy to ensure that our stakeholders see constant returns on their investment," stated GWC chairman Sheikh Abdulla Fahad JJ al-Thani.
"Our long-term strategies will see us continue to develop on our current assets while exploring new avenues and markets ready for expansion and exploration," he added.
Gulf Warehousing Company's investments have shown "strong" dividends, and have made "remarkable" gains in all the company's departments, including contract logistics and freight forwarding, earning major contracts with clients in the oil and gas field as well as other sectors.
The Record Management Solution (RMS) market continues to dominate the market, serving nearly all financial institutions in the country and entering the medical records field just this year with two major contracts with national health providers. International Moves and Relocations continued to expand its operation, and continues to maintain a 98% satisfaction rate on all moves, which have included full-office tower moves.
Fine Art Logistics has taken steps to ensure its position as the country's preferred fine art movers, and have therefore gained several national art installation and movement contracts.
The transport department, meanwhile, added to its assets by establishing a container repair service offered directly to its clients through the LVQ site.
Established in 2004, Gulf Warehousing Company is the leading provider of integrated logistical solutions in Qatar.
GWC is one of the largest supply chain service providers in the region, offering warehousing and distribution, hazmat logistics, freight forwarding, project logistics, sports and event logistics, fine art logistics, supply chain consulting, transportation management, asset management, records management, and moving and relocation services to various industry verticals.
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