Gulf Warehousing Company Net Profit Rises 10% to QR173.91 Million in Q3 2018

October 23, 2018

Gulf Warehousing Company (GWC) net profit amounted to QR173.91 million, compared to QR157.26 million for the same period last year, while the company’s earnings per share reached QR2.97, versus QR2.68 for the corresponding period of 2017.

The Group’s Comments:

GWC’s gross profit from the operation of stores increased by 20.1% to QR303.6 million in the first nine months of 2018, in addition to QR10.6 million generated from other income. The company’s total expenses increased by 7.6% to QR82.1 million, and the cost of financing increased by 92.4% to QR58.3 million. As a result, the net profit for this period increased by 10.1% to QR173.2 million.