Dubai listed global logistics company Aramex has announced its Full Year Financial Results for 2014 as the tenth consecutive year of record profits.
According to Aramex, the company’s 2014 Full Year Revenues reached AED 3,650 million (€897 million), up 10 per cent compared to 2013, with Full Year Net Profits at AED 318.4 million (€77 million), an increase of 15 per cent compared to 2013.
Commenting on the results, Hussein Hachem, Aramex Chief Executive Officer said, “Aramex has had another very strong set of results in 2014. Our performance was driven by solid revenue growth primarily in international and domestic express, as well as the continued expansion of our innovative e-commerce platform across key growth markets.
“Aramex also achieved solid growth across its geographies, with the GCC remaining the largest contributor to revenues in 2014.”
Aramex’s International Express business reportedly recorded a strong performance in Q4 with revenues growing 18 per cent to AED 335 million (€82 million).
The Domestic Express business saw revenues of AED 203 million in Q4, an increase of 26 per cent from Q4 2013. According to Aramex, the mid-year acquisition of Australia-based Mail Call Couriers was a significant contributor to this growth.
Freight Q4 revenues increased slightly by four per cent to AED 315 million (€77 million) and Full Year revenues up one per cent to AED 1,247 million (€306 million).
Commenting on Aramex’s outlook for 2015, Hussein Hachem said, “We are very confident about extending our growth momentum and strong performance into 2015. Our asset light model will remain a key factor for Aramex’s business expansion supported by our strategic investments in innovative and transformational technologies to enhance customer experience and improve our operational efficiencies.
“Furthermore our aggressive acquisition strategy will set the pace for our growth in 2015 supporting the expansion of global connectivity by deepening trade links between high-growth markets.”