(The Group’s Comments) GWC’s Net Profit Up 10% to QAR
182 Million in Q3 2019
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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.
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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.
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Although revenues from logistics operations improved by QR 16.5
million during the quarter, freight revenues decreased by QAR
28.4 million.
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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.
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