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.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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