Aramex net profit grows 13%

06/11/2017 06:16 AST

Aramex, a global logistics and transportation company, announced its financial results for the third quarter on Sunday.

The company's net profits for the quarter increased by 13 per cent to Dh81.6 million, up from Dh72.2 million in the same period of 2016.

Revenues in the third quarter also increased to Dh1.1 billion, up by 9 per cent compared to last year's Dh1.05 billion, in the same quarter.

In a separate statement on the results, Hussain Hachem, CEO of Aramex, said: "We are pleased to report strong results in the third quarter with healthy growth rates in revenues and net profits. All our geographies and business segments performed very well in the last three months. We also continued to witness strong cross-border e-commerce growth across key markets, especially in Asia and [the] Asia-Pacific."

With e-commerce activities continuing to grow globally, Aramex's International and Domestic Express services are driving the company's positive financial performance, the statement from the company said.

In addition, freight services saw a rebound in the third quarter of 2017, with expectations for this trend to continue for the rest of the year.

"Moving forward, we will continue to focus on growing our e-commerce proposition and expanding global operations through partnerships with logistics and technology companies," Hachem said.

"Our most recent financial results and strong growth levels are a testament to this approach. We remain committed to keeping the momentum as we move forward for the remainder of 2017."

Aramex says it is heavily focused on becoming a technology-based enterprise, continuing to implement new technologies to support this transition, whilst pursuing partnerships to further enhance its products and services.

The company says that this will remain a key priority for 2017 and into 2018.

Gulfnews