16% net profit growth for Aramex thanks to international express and e-commerce
Global logistics and transportation solutions provider Aramex have announced its financial results for the third quarter of 2014 – revealing a strong performance. Aramex’s revenues in the third quarter of 2014 increased to AED 922 million, up 12% compared to AED 824 million in Q3 2013. Net Profits increased 16% to AED 69.5 million, up from AED 59.9 million in Q3 2013.
Aramex delivered broad-based revenue growth across its geographies for the third quarter, with the GCC the key driver of this growth, complemented by improved performance from its operations in Europe, Asia-Pacific and Africa, as volumes of international and domestic trade increased.
Aramex’s acquisition of Australian express company Mail Call in June has supported the growth in Q3. Mail Call has strengthened Aramex’s Asia-Pacific proposition, creating opportunities to further develop and grow its global e-commerce business. Mail Call has also provided Aramex with important, technology-driven delivery capabilities in Australia, enabling Aramex to take advantage of the growing e-commerce industry between Australia and Asia in particular.
Commenting on the results, Hussein Hachem, Aramex CEO said: “We are very pleased to have delivered another robust quarter of results. Revenues were once again particularly strong in international express and e-commerce, following our investment in last-mile infrastructure and innovative technology solutions. We remain well positioned to continue to capitalise on the significant opportunities in e-commerce across our growth markets.”
Across its core businesses in express and logistics, Aramex continued to deliver solid results during the third quarter of 2014, with results from e-commerce particularly strong. Aramex continues to develop its ecommerce offerings and online shopping experience by expanding to new markets in Asia, Africa, Europe and Australia. It will remain a key focus for Aramex’s business strategy for the remainder of 2014 and into 2015.
“We have entered the final quarter of the year with strong momentum in our business, maintaining our focus on our global growth strategy,” added Hachem. “We remain confident in continuing our excellent performance through the remainder of the year”.
