Thursday 8th Dec 2016 - Logistics Manager

Profits up 7pc at Aramex

Net profits at Aramex rose seven per cent in the third quarter to AED 74.6 million (£13.3m), while sales were two per cent up to AED 937m (£166.7m).

CEO Hussein Hachem said: “Revenue growth in Q3 was stable for the business, despite fluctuating oil prices and weaker global currencies. While this volatility did impact our revenues this quarter, net profit growth was still overall positive. We have entered the final quarter of the year with a strong focus on furthering our global growth strategy, pursuing strategic investments in markets both locally and abroad.”

“Looking to the end of 2015 and into next year, we will remain focused on capitalizing on the significant investment opportunities in e-commerce, as well as pursuing more acquisitions of companies that have suitable, scalable synergies with Aramex. We will also continue to further transform Aramex into a leading technology enterprise by investing in innovative solutions best tailored to customers’ needs. We will carefully monitor global oil prices and currency fluctuations and remain confident about extending our growth momentum into Q4,” he said.