(The Group’s Comments) GWC’s Net Profit Up 10% to QAR 182 Million in Q3 2019

Ø  Profits: amounted to QAR 181.48 million for the period ended 30 September 2019, an increase of 9.5 %, compared to QAR 165.70 million for the same period of 2018, while the company’s earnings per share reached QAR 0.31 versus QAR 0.28 for the corresponding period of 2018. As for the third quarter, GWC posted a profit of QAR 59.3 million, an increase of 7.8% compared to QAR 55.0 million for the corresponding period of 2018.

Ø  Operating Profits: despite the QAR 15 million or 1.62% decline in revenues, the company's operating profit grew by 5.0% to reach QAR 246.2 million by the end of the quarter due to QAR 33.1 million decrease in sales costs or 5.4%, which reflected well on profit margins.

Ø  Although revenues from logistics operations improved by QR 16.5 million during the quarter, freight revenues decreased by QAR 28.4 million.

Ø  Comprehensive Income: GWC posted valuation losses of foreign currency differences by about QAR 448,000 at the end of the quarter, without any valuation differences for the same period of 2018.