Aramex reveals double-digit growth

Dubai-based logistics company, Aramex, has announced its financial results for Q2 2016, reporting net profits increased by 36 per cent to AED 125.7 million (€30.5 million) compared to Q2 2015.

According to Aramex, its revenues were also up 17 per cent to AED 1,105 million (€268.3 million) compared to AED 946 million (€229.7 million) over the corresponding period of the previous year. Europe, Asia and Australia were the biggest contributors to growth, with the recent acquisition of Fastway Couriers contributing significantly to revenues, Aramex said.

Commenting on the results, Aramex CEO, Hussein Hachem, said: “We are pleased with our Q2 financial performance. Despite global economic uncertainty, continuing oil price volatility and currency fluctuations, our results for the quarter were strong. However, though we finished strongly, we experienced slowing growth at the end of the quarter. We are closely watching this trend so we can quickly adjust to further volatility and remain cautiously optimistic about continuing our growth momentum into the second half of 2016.”

The report also included Half Year results, with Aramex revealing HY 2016 revenues increased 15 per cent year-on-year to AED 2,134 million (€518 million) and net profits rose 24 per cent to AED 222.5 million (€54 million).

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