Aramex announces 7% net profit growth in the third quarter of 2015

Aramex (DFM: ARMX), a leading global provider of comprehensive logistics and transportation solutions, today announced its financial results for the third quarter ended 30 September 2015. Aramex’s revenues for the period increased to AED 937 million, up by 2% compared to AED 921 million in Q3 2014. Net Profits increased by 7% to AED 74.6 million, up from AED 69.5 million in Q3 2014.

Aramex’s third quarter performance was driven by broad-based revenue growth across all its geographies, with the GCC the largest contributor to revenues, despite the reduced number of working days due to public holidays. This was complemented by stable performance from operations in Asia-Pacific and Africa. Across all of its businesses Aramex delivered positive results, with e-commerce the highest performing segment. International and Domestic Express both maintained stable growth trajectories.

Commenting on the results, Hussein Hachem, Aramex CEO 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,” added Hachem.

Aramex continues to develop its international cross-borders e-commerce offerings, operational efficiencies and strategic investments in innovative technologies across all of it markets. Innovation in technology will remain a key focus for Aramex’s business strategy for the remainder of 2015 and into 2016.