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Wed 3 Feb 2016 10:21 AM

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Dubai courier Aramex Q4 net profit falls 36%

The company made a net profit of $15.7 million in the three months to Dec 31

Dubai courier Aramex Q4 net profit falls 36%

Dubai-based courier Aramex reported a 36 percent fall in fourth-quarter net profit on Wednesday.

The company made a net profit of 57.6 million dirhams ($15.7 million) in the three months to Dec. 31, it said in a statement. This compares with a profit of 89.4 million dirhams in the year-ago period.

SICO Bahrain forecast Aramex would make a quarterly net profit of 97.6 million dirhams.

Annual profit for the firm was 311 million dirhams, down from 318 million dirhams in the year-ago period.

In October, Aramex said it had several acquisitions in the pipeline and was expecting to close deals valued in the range of $150 million in the next two quarters.

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