Aramex records 7% jump in H1 revenues
and 13% rise in profits

Logistics and transportation firm Aramex has announced record growth for the first half, with revenues up seven per cent and profits rising 
13 per cent.

By Staff Report

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Published: Fri 25 Jul 2014, 8:45 AM

Last updated: Tue 7 Apr 2015, 10:25 PM

In a statement on Thursday, Aramex said half-year revenues were Dh1,768 million, up from Dh1,647 million in the corresponding period of 2013, while net profits were Dh159.5 million, compared to Dh141.6 million in the first half of 2013.

The company said strong momentum in the business had continued through the second quarter following a robust first-quarter performance.

Second-quarter revenues increased to Dh917 million, up eight per cent compared to Dh852 million from the first quarter, and net profits rose to Dh80.8 million, up from Dh78.7 million in the first quarter, an increase of 3 per cent. Aramex’s second-quarter revenues were also up 9 per cent compared to Dh843 million in the corresponding period of the previous year. Aramex second-quarter profits were up 12 per cent compared to Dh72.3 million in 2013.

Aramex’s results include a one-off cost of Dh5.64 million related to an acquisition of Australian Mail Call, which was recorded in June.

“We have once again delivered an excellent set of results,” said chief executive officer Hussein Hachem.

Aramex said it had delivered broad-based revenue growth across its geographies, with the GCC the key driver of this growth, complemented by much stronger performances from its operations in Europe, Asia-Pacific and Africa, as economic conditions improved and the volumes of international and domestic trade increased.

Africa remains vital to Aramex’s expansion strategy and to its global network, as it continues to bridge new emerging market trade corridors.

Across Aramex’s business lines, revenues from freight remained flat, primarily due to the continuing competitive nature of the segment, while logistics recorded a particularly strong performance, due to continued robust demand for retail and oil and gas services. Significant revenue growth was recorded from both International Express and Domestic Express, with International Express in particular delivering a very strong performance on the back of a continued increase in demand for global online shopping services across international markets.

“We are particularly pleased with the performance of our e-commerce business and how we continue to seize the considerable international opportunities in this sector,” Hachem said.

“Through the first half of the year, we have focused on building considerable scale in these growth markets by investing in our infrastructure, in addition to acquiring niche Australian express company Mail Call and signing an important joint venture with InPost, which will see the introduction of parcel lockers for the first time to the 
Middle East.”

— business@khaleejtimes.com


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