Dubai-based Aramex announced a 13 percent increase in its Q3 net profits.
The global logistics and transportation firm reported profits of $22.2m (AED81.6m), up from $19.6m (AED72.2m) in Q3 2016.
Revenues in the third quarter have also increased to $311m (AED1.1bn), up by 9% compared to last year’s Q3 2016. Aramex said excluding global currency, fluctuations, especially the Egyptian Pound, Q3 revenues would have been 11%.
"All our geographies and business segments performed very well in the last three months," said Hussein Hachem, CEO of Aramex. "We also continued to witness strong cross-border e-commerce growth across key markets, especially in Asia and Asia-Pacific.”
Hachem said Aramex’s International and Domestic Express services continue to drive the company’s positive financial performance, particularly with the growth of e-commerce activities globally,
“Moving forward, we will continue to focus on growing our e-commerce proposition and expand global operations through strategic partnerships with innovative logistics and technology companies," he 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,” Hachem added .
He said Aramex is heavily focused on becoming a technology-based enterprise and will continue to implement new, innovative technologies to support this transition and pursue strategic partnerships to further enhance its products and services in 2017 and into 2018.
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