Dubai's Aramex reports 13% rise in Q3 net profit

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Dubai logistics firm Aramex on Monday reported a 13 percent rise in third-quarter net profit.

Aramex posted a third-quarter net profit of AED59.9m ($16.3 million) compared with AED53.1m in the corresponding period in 2012, it said in a statement.

The company's revenues in the third quarter increased to AED827m, up nine percent compared to AED758m in Q3 2012, it added.

Hussein Hachem, Aramex CEO said: "We are pleased to have delivered another strong set of quarterly results. Our continued focus on performance optimisation and efficiencies allowed us to stay on target and deliver sustainable Q3 revenues."

Revenues from Aramex's core market operations in the Middle East and North Africa (MENA) region have been robust despite the prolonged low-trading season at the beginning of the third quarter, he added.

The firm said sub-Saharan African markets continued to record strong growth, with South Africa playing an increasingly important role in Aramex's global network.

Aramex added that its core businesses in express, logistics, freight and e-commerce Aramex continued to deliver solid results during the third quarter of 2013, particularly in the e-commerce sector.

"We have entered the final quarter of the year with very good momentum in our business, maintaining our focus on our global growth strategy," said Hachem.

"We have also succeeded in expanding our footprint through franchising and acquisitions in sub-Saharan Africa and Central Asia - markets that will be key to our future development - and we will continue to focus on expansion in these markets in 2014."

Related:
Companies

Market Performance

Aramex
3.2
0.0 0.0 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Crowded skies in the Middle East

Crowded skies in the Middle East

Aviation experts give their suggestions on how to solve the Middle...

Cracking the code

Cracking the code

Strategic codeshare agreements are a win-win situation for gulf...

Stronger together? Reviewing Emirates' historic partnership with Qantas

Stronger together? Reviewing Emirates' historic partnership with Qantas

One year after the “historic” Emirates-Qantas partnership deal...

1
Most Discussed
  • 16
    Baby NOT on board?

    The people commenting here were all 20 years old when they were born, never cried, never screamed and never ran etc etc.
    more

    Thursday, 21 August 2014 8:30 AM - Amer
  • 7
    Belgium diplomat arrested for pulling veil from Qatari princess

    If its illegal to dress in a certain way why didnt the police do something about it.

    Whereever the Europeans go, they demand that society conforms... more

    Thursday, 21 August 2014 8:37 PM - Ghazi
  • 7
    CEO of Just Falafel to step down

    Just Falafel was a disaster waiting to happen. The food isn't even that good and the focus wasn't on building the brand and operations. Instead they focused... more

    Thursday, 21 August 2014 8:37 PM - milad
  • 23
    World's most pierced man refused entry to the UAE

    Tolerance has its limits everywhere including Dubai and those who considered Dubai a lawless circus were held accountable...so thank you Dubai authorities... more

    Thursday, 21 August 2014 10:51 PM - Khalil
  • 17
    UK looks to close tax loophole on expat landlords

    UK taxes too much and too complicated and time taking and confusing and continuous. Returns, lawyers, HMRC, taxes too much for too little. Not worth the... more

    Sunday, 17 August 2014 12:40 PM - AbdolRahman
  • 16
    Baby NOT on board?

    The people commenting here were all 20 years old when they were born, never cried, never screamed and never ran etc etc.
    more

    Thursday, 21 August 2014 8:30 AM - Amer