The company made a net profit of $15.7 million in the three months to Dec 31
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.For all the latest transport 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.