FROM LEFT: GWC Group Chairman Sheikh Mohammed bin Hamad bin Jassim bin Jaber Al Thani, GWC Group Managing Director Sheikh Abdulla bin Fahad bin Jassim bin Jaber Al Thani, and GWC Group CEO Matthew Kearns.
Doha, Qatar: Gulf Warehousing Company (GWC Group), one of the region’s leading logistics groups providing cross-border and integrated logistics solutions, released its financial performance data for the first quarter of 2026 following a Board of Directors meeting held yesterday and chaired by GWC Group Chairman, Sheikh Mohammed bin Hamad bin Jassim bin Jaber Al Thani.
In the first quarter of 2026, the Group’s gross revenues reached QR318m. Net profit for Q1 reached QR33.7m, in full delivery of the Group’s operating plan, with January and February recording net profit above plan, before the onset of regional disruption in March. Earnings per share for the quarter stood at QR0.058.
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.
Despite far-reaching impacts of the most severe supply chain stress the GCC has experienced, and a rapidly changing landscape, GWC Group continued to focus on ensuring the safety of its people, fulfilling its commitments to its customers and safeguarding the continuity of supply chains in Qatar and the region. In the first quarter of 2026, the Group responded across three distinct corridors. In partnership with the Qatar Government to safeguard strategic food supplies, GWC Group arranged dedicated vessel capacity to the GCC, with goods distributed onward through its warehousing assets in Oman and Jeddah to Qatar, the UAE, Bahrain and Saudi Arabia.
The Group also activated an air-land corridor via Riyadh, connecting air freight with its bonded cross-border land transport network to move essential food cargo into Qatar. Separately, for the first time, GWC Group operationalised a fully TIR-powered air-to-land corridor at Hamad International Airport, enabling Doha to serve as a regional redistribution hub for supply chains across all five GCC markets.
Sheikh Mohammed bin Hamad bin Jassim bin Jaber Al Thani, GWC Group Chairman, said: “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. I am deeply proud of every individual who ensured that essential goods kept moving and that no one was left without what they needed.”
Sheikh Abdulla bin Fahad bin Jassim bin Jaber Al Thani, GWC Group Managing Director, said: “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. This reflects our unwavering commitment to protect the security, stability and resilience of Qatar’s supply chains and domestic market.”
Matthew Kearns, GWC Group CEO noted, “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.”
