Qatari logistics firm GWC’s net income flat in 1H 2023

Qatari logistics giant Gulf Warehousing Company’s(GWC) bottomline recorded a 0.2% y-o-y increase to QAR 115 mn in 1H 2023,according to the company’s earnings release. GWC’s revenues rose 9% y-o-y to QAR 786 mn during the same period.

The increases came off the back of continued diversification in income sources and developing human capital, Chairman Abdulla Al Thani said in the earnings release. The results were attained in spite of challenging global economic and financial conditions due to slower trade and increased lending and borrowing profit rates.