Doha – Mubasher: Gulf Warehousing Company on Tuesday reported a growth of 8.6% in its profits for the first quarter of 2017, compared to Q1-16.

The profits stood at QAR 50.5 million ($13.86 million) in Q1-17, compared to QAR 46.5 million ($12.77 million) in Q1-16, according to the company’s filing to the Qatar Stock Exchange (QSE).

Earnings per share (EPS) amounted to QAR 0.86 in Q1-17, compared to QAR 0.82 in the same period the year before.

The Qatari company had previously reported an increase of 10.8% in profits reaching QAR 205.67 million in 2016, compared to QAR 185.16 million in 2015.

Gulf Warehousing’s stock closed on Tuesday 0.57% higher at QAR 53.3 per share at a value of QAR 1.7 million, after 31,800 shares were traded.

The company’s profits were the highest among Qatar-listed companies in the transportation sector.