22/04/2026 06:33 AST
Qatar-based Gulf Warehousing Company (GWC Group) has reported a net profit of QR33.7 million ($9.3 million) for the first quarter of 2026, while its gross revenues hit QR318 million ($86.3 million), as it navigated severe regional supply chain disruptions.
Announcing the results at the board meeting chaired by Sheikh Mohammed Bin Hamad Bin Jassim Bin Jaber Al Thani, GWC said the net profit and gross revenues were in full delivery of the Group's operating plan.
Performance in January and February exceeded internal targets, before geopolitical tensions in March disrupted trade flows across the Gulf, the company said.
Earnings per share for the quarter stood at QAR0.058. March saw significant geopolitical turmoil that resulted in an 86% drop in vessel traffic in the Strait of Hormuz and no large carriers calling at Hamad Port.
Qatar's airspace was suspended between February 28 and March 4, eliminating over 3,000 tonnes of daily air freight capacity, while offshore oil and gas projects were also halted, it stated.
Despite the disruption, GWC said it maintained operations and focused on securing supply chains by activating alternative logistics routes.
It also established an air-land corridor via Riyadh, linking air cargo with its cross-border trucking network, and deployed a TIR-based air-to-land route through Hamad International Airport to support regional distribution.
"What unfolded in March tested every part of our organisation, and our people rose to meet it. Since our founding, GWC Group has held to one clear principle: to be present, reliable and responsible for Qatar and the region when it matters most. In the face of the most severe supply chain disruption this region has faced in recent memory, that principle held," remarked Sheikh Mohammed.
The company worked with the Qatari government to arrange dedicated sea freight capacity into the Gulf, distributing goods via warehousing facilities in Oman and Jeddah to markets including Qatar, the UAE, Bahrain and Saudi Arabia.
"When disruption struck, GWC Group moved without hesitation. Working hand in hand with the Qatar Government to secure strategic food supplies, we opened a dedicated sea corridor into the GCC alongside new land and air routes," remarked its Managing Director Sheikh Abdulla Bin Fahad Bin Jassim Bin Jaber Al Thani.
On the results, CEO Matthew Kearns said: "What this quarter proved is that GWC Group can deploy its full capabilities under pressure and deliver. We activated three corridors simultaneously and built end-to-end supply chains in real time - leveraging our warehousing in Oman and Jeddah, our bonded land network through Saudi Arabia, and our regional reach into the UAE to move essential goods into Qatar and onward across the GCC."
"Throughout, we never lost sight of what mattered most: the safety of our people and safeguarding the continuity of our customers' business. We close the quarter with our safety record intact and our customer commitments upheld," he added.
GWC said it continued to expand its regional footprint, particularly in Saudi Arabia, where its Jeddah facility is operational and additional capacity is being developed in Riyadh and Dammam.
With more than 2 million tonnes of freight moved annually across its diversified business divisions, GWC Group operates a fully integrated logistics platform supported by over 1,600 specialised vehicles and a network of 20 strategic locations across the GCC.
It handles up to 60,000 twenty-foot equivalent units (TEUs) of ocean freight and 14,000 tonnes of air freight annually, and maintains a network spanning more than 120 countries.
Trade Arabia
Please wait...
