Dubai's Aramex posts 26% rise in Q2 net profit

Logistics firm Aramex cites boom in global e-commerce markets as it reports strong half-year performance
Dubai's Aramex posts 26% rise in Q2 net profit
Bashar Obeid, CEO of Aramex.
By Sam Bridge
Wed 01 Aug 2018 04:11 PM

Aramex, the Dubai-based logistics provider, on Wednesday said its second quarter net profit surged by 26 percent to AED122 million.

The company said its net profit in the first half of 2018 increased by 20 percent to AED225.7 million.

It added in a statement that revenues for the quarter rose by 7 percent to AED1.2 billion while half-year revenue hit AED2.4 billion, also up by 7 percent.

Bashar Obeid, CEO of Aramex, said: “We are extremely pleased with our results this quarter, which are attributed to the increase in demand for our services across most of our businesses and to our restructuring efforts.

"We continue to witness a boom in the global e-commerce market, and have been able to reap the benefits of that trend by boosting our investments in last-mile delivery solutions while enhancing our service levels.

"Moving forward, we will continue to deliver on our digital transformation strategy. We are confident our efforts will reflect positively on our financial performance while enabling us to drive efficiencies and improve our processes by trimming costs and becoming leaner, which will ultimately enhance the customer experience and expand our bottom line.”

Commenting on Aramex’s outlook for the remainder of 2018, Obeid added: “We are on track to deliver strong results this year, as we continue to focus on strategic initiatives to transform our business into a technology-driven enterprise and uplift operational efficiencies.”

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