Mubasher: Gulf Warehousing Company (GWCS) on Monday posted a 10.6% year-on-year profit rise for the third quarter of 2018 supported by revenues.
Net profits amounted to QAR 57.5 million in Q3-18, compared to QAR 51.9 million in Q3-17, according to the company’s statement to the Qatar Stock Exchange (QSE).
Earnings per share (EPS) amounted to QAR 2.95 for the three-month period ended September, from QAR 2.68 for the same period of the prior year.
During the first nine months of 2018, profits of the logistics company grew 10.1% to QAR 173.2 million, versus QAR 157.3 million in the same period in the year before.
The profit increase was attributed to a 32.5% year-on-year rise in revenues to QAR 920.8 million in Q3, while operational profits levelled up 23.8% to QAR 232.2 million.
By the end of Monday’s session, GWCS’ stock inched up 0.05% at QAR 40.64.
