ID :
196306
Thu, 07/21/2011 - 14:29
Auther :
Shortlink :
http://m.oananews.org//node/196306
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Gulf Warehousing Discloses Semi Annual Financial Statements
Doha, July 21 (QNA) - Gulf Warehousing Company QSC (GWC) registered net profit of QR 30.3 million for the first half ended 30th June 2011, posting a growth of 309% higher compared to QR 7.4 million in the previous corresponding half of 2010.
Earnings per share grew from QR 0.30 to QR 0.77 during first half of 2011, a growth of 157% as compared to 2010, the company said in a statement issued by Qatar Exchange website.
GWC's Chief Executive Officer, Ranjeev Menon said "we continued to perform strongly in the first half of 2011 posting 346% growth in revenue compared to the same period of 2010, maintaining the momentum of the last two years. The strong financial performance for the first half was largely attributed to the increase in Warehousing, Freight Forwarding and Transportation volume and the operations of Logistics Village Qatar Phase 1."
Second phase development of Logistics Village kicked off during the 2nd Quarter and GWC is targeting to make it operational early next year.
"Our company's vision and business model equally contributed to this exponential growth. Our strategy of actively managing our businesses has produced substantial, sustainable gains in each of our business verticals," Menon added.
Earnings per share grew from QR 0.30 to QR 0.77 during first half of 2011, a growth of 157% as compared to 2010, the company said in a statement issued by Qatar Exchange website.
GWC's Chief Executive Officer, Ranjeev Menon said "we continued to perform strongly in the first half of 2011 posting 346% growth in revenue compared to the same period of 2010, maintaining the momentum of the last two years. The strong financial performance for the first half was largely attributed to the increase in Warehousing, Freight Forwarding and Transportation volume and the operations of Logistics Village Qatar Phase 1."
Second phase development of Logistics Village kicked off during the 2nd Quarter and GWC is targeting to make it operational early next year.
"Our company's vision and business model equally contributed to this exponential growth. Our strategy of actively managing our businesses has produced substantial, sustainable gains in each of our business verticals," Menon added.
