Dubai-based logistics company, Aramex, has reported a net profit surge according to Q2’18 financial results.
Aramex’s Q2’18 net profit surged by 26 per cent to €28 million, compared to AED €22 million in Q2’17, and the company’s net profit in the first half of 2018 increased by 20 per cent to €52.6 million, compared to €27.7 million for the same period of 2017.
Revenues for the quarter rose by seven per cent to €287,600, compared to €267,700 in the corresponding period of 2017. H1 2018 revenue reached €565,399, up by seven per cent compared to €525,948 in the same period 2017.
“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,” said Aramex CEO, Bashar Obeid
“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. We also had encouraging growth in our freight forwarding services specifically from the oil and gas segment, which enjoyed a double-digit growth this quarter.
“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,” he said.
“We are very proud of the progress we have made this year in enhancing our service levels and efficiently meeting the last-mile capacity needs of our clients globally,” said Aramex Chief Operating Officer, Iyad Kamal.
“This year, we have significantly improved our service levels and transit times both, globally and regionally, which is a direct reflection of our investments in delivery capabilities and entering into strong, strategic partnerships to upgrade our services in Europe and the Americas.
“Innovation, which is a key pillar of our strategy, continues to drive solutions across the company’s operations to boost customer experience and maximise efficiencies.”