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FINANCIAL NEWS
Qatari GWC net profit up 36.8 percent in Q3
26 Oct 2014
(MENAFN) Gulf Warehousing Company (GWC) announced that it registered an increase in its net profit, reaching USD28.1 million during the July-September period, which accounts for a 36.8 percent compared to the same period last year, when the net profit registered was USD20.5 million, The Peninsula Qatar reported.
During the third quarter of this year, the company said its gross revenue USDS138.7 million, up 26.4 percent compared to USD109.7 million which was earned in the same period last year.
The company attributed this surge in profits to the completion of key asset development projects, as well as the launch of operations of Phase IV at the Logistics Village Qatar (LVQ).
“Our capacity and desire for expansion is the main driver for the growth in our operations, which in turn has generated this respectable increase in our revenues and profits. We will ensure continued strong returns on our investments by excelling in the solutions and services we already offer, while seeking out new opportunities and untapped markets,” GWC Chairman said.
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