GWC Chairman Sheikh Mohammed bin Hamad bin Jassim bin Jaber Al Thani; GWC Group Managing Director Sheikh Abdulla bin Fahad bin Jassim bin Jaber Al Thani; and GWC’s Acting Group CEO Matthew Kearns with other officials during the meeting.
Doha: Doha Gulf Warehousing Company (GWC) – one of the leading logistics service providers in the MENA region, held its Ordinary Assembly General Meeting yesterday, at the company’s Ras Bufontas Free Zone location.
The AGM was chaired by GWC Chairman, Sheikh Mohammed bin Hamad bin Jassim bin Jaber Al Thani and was attended by representatives of GWC’s external auditors, representatives of the Ministry of Economy and Industry and the company’s shareholders.
The AGM approved all items on the agenda, including the Board’s recommendation to distribute a cash dividend of QR0.10 per share, equivalent to 10% of the nominal share value.
It also ratified the Board of Directors’ report on the company’s activities and financial position for the fiscal year ending 31 December 2024, along with the external auditor’s report, absolving the board members from liability and ratifying the annual corporate governance report.
Sheikh Mohammed bin Hamad bin Jassim bin Jaber Al Thani, GWC Chairman, said: “The company has solidified its position as a leader in the logistics and supply chain solutions sector, consistently improving its performance by adopting innovative solutions and adhering to global best practices. This has been accomplished while simultaneously enhancing the agility of our business model to ensure sustained profitability and improve adaptability to dynamic operational changes. For the year ending 31 December 2024, the company achieved strong financial results, with record annual gross revenues of QR1.582bn, operating profits of QR306m, a net profit of QR172m, while earnings per share stood at QR0.293.The Board has recommended a 10% cash dividend, at QR0.10 per share, as part of its commitment to maximize shareholder value.”
Sheikh Abdulla bin Fahad bin Jassim bin Jaber Al Thani, GWC Group Managing Director, said: “The company has successfully solidified its position in logistics sector both locally and regionally. This is result of a carefully executed strategy primarily focused on expanding into new sectors and markets, diversifying revenue streams, increasing market share, and mitigating potential risks, which is reflected in the financial results and sustained profits achieved in 2024.
Matthew Kearns, GWC’s Acting Group CEO, stated: “Our focus at GWC is to drive innovation in the logistics sector by developing and adopting the latest technological advancements, whilst maintaining a strong commitment to sustainability and social responsibility. We are also committed to supporting local initiatives and empowering micro, small and medium-sized enterprises (MSMEs), to support wider industry development in Qatar and the region."
