Gulf Warehousing profit rises 12% in Q1

Gulf Warehousing profit rises 12% in Q1
Profits amounted to QAR 56.71 million in Q1-18
Gulf Warehousing
GWCS
0.00% 39.80 0.00

MubasherGulf Warehousing Company on Monday posted a 12% year-on-year jump in its profits during the first quarter of 2018.

Profits amounted to QAR 56.71 million in Q1-18, compared to QAR 50.52 million in Q1-17, according to a filing to the Qatar Stock Exchange (QSE).

Earnings per share (EPS) reached QAR 0.97 for the first three months of 2018 versus QAR 0.86 for the same period of the prior year.

Revenues hiked 39.8% to QAR 311.64 million over Q1-18, up from QAR 222.78 million in the same quarter of the year before.

Gulf Warehousing’s operating profits increased to QAR 74.83 million in Q1-18, according to the statement.

For the full-year 2017, the company’s profits rose 5.1% year-on-year to QAR 215.4 million.

By the end of Monday’s session, Gulf Warehousing’s stock stood at QAR 41.10.