Gulf Warehousing Net Profit Rises to QR115 Million in 1st Half of 2018

July 22, 2018

Gulf Warehousing Company’s net profit amounted to QR115.66 million, compared to QR105.26 million for the same period last year, while its earnings per share recorded QR1.97, versus QR1.80 for the same period of 2017.

The Group’s Comments:

GWC’s total operating profit rose by 23% to QR202.7 million in the first half of 2018 -possibly owing to increased storing due to the blockade-. The administrative and other expenses increased by 13.4% to QR56.6 million, while the cost of financing doubled to QR38.7 million. As a result, the net profit increased by 9.8% to QR115.6 million.