{"id":74466,"date":"2023-10-26T00:00:00","date_gmt":"2023-10-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/10\/26\/gwcs-net-income-saw-12-7-y-o-y-decrease-in-3q-2023\/"},"modified":"2023-10-26T00:00:00","modified_gmt":"2023-10-26T00:00:00","slug":"gwcs-net-income-saw-12-7-y-o-y-decrease-in-3q-2023","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/10\/26\/gwcs-net-income-saw-12-7-y-o-y-decrease-in-3q-2023\/","title":{"rendered":"GWC\u2019s net income saw 12.7% y-o-y decrease in 3Q 2023"},"content":{"rendered":"

Qatari logistics giant <\/strong>Gulf Warehousing Company\u2019s<\/a><\/strong>(GWC) bottomline recorded an <\/strong>12.7% y-o-y drop to QAR 53.8 mn in 3Q 2023<\/strong>, according to a financial statement (pdf)<\/a>. Revenues also decreased 11.7% y-o-y to QAR 349.56 mn during the same period.<\/p>\n

On a 9M basis: <\/strong>The company\u2019s net income dropped 5.5% y-o-y to QAR 171.42 mn in 9M 2023. Meanwhile, revenues inched up 2.32% y-o-y to QAR 1.14 bn. <\/p>\n

What they said: <\/strong>\u201cThis year, GWC Group embarked on an ambitious journey, exploring new markets, and diversifying its services. These strategic moves are reinforcing Qatar\u2019s position as a regional and global logistics and reexport hub, setting the stage for continued growth and innovation,\u201d GWC Chairman Sheikh Abdullah Bin Fahad Bin Jassim Bin Jaber Al Thani, Chairman of GWC Group stated.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company\u2019s been expanding and diversifying its services over the past year, according to the press release<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[175],"tags":[174,17,25,153],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-74466","post","type-post","status-publish","format-standard","hentry","category-earnings-watch","tag-earnings-watch","tag-enterprise-logistics","tag-logistics","tag-qatar","wpautop","entry"],"acf":{"mongo_id":"38495459-91d9-4eef-aefa-8c4f4f534bcf","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/10\/1306.jpg,https:\/\/www.youtube.com\/watch?v=Yc-egp3Czfc","photo_position":"above","homepage_title":"","full_issue_title":"GWC\u2019s net income saw 12.7% y-o-y decrease in 3Q 2023","related_issue":[74456],"teaser":"The company\u2019s been expanding and diversifying its services over the past year, according to the press release","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/10\/.9a7d7def-c5fa-455b-b3e8-31a579f8ce06.mp3"},"yoast_head":"\nGWC\u2019s net income saw 12.7% y-o-y decrease in 3Q 2023 - 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