Aramex reports 15% profit increase
Aramex has announced that it achieved a 15% increase in profits for the second quarter of 2015. In a statement issued today (29 July), Aramex said that net profits were now up to AED 92.6m, from AED 80.8m in Q2 2014. Revenues were up 6% to AED 967m, compared to AED 915m over the corresponding period of the previous year.
Aramex had also turned in a good Q1 performance, so its Half Year 2015 revenues increased year-on-year to AED 1,896m, up 7% compared to AED 1,765m for the corresponding period of 2014. Net Profits during the same period rose to AED 179.2m, up from AED 159.5m in the first half of 2014, a year-on-year increase of 12%.
Aramex delivered strong and broad-based revenue growth across its geographies, despite currency fluctuations. Overall net income was extremely healthy, with strong performances across all of Aramex’s territories, while the GCC remained the key driver of this growth.
Like many companies providing express delivery services, Aramex found that e-commerce has been a strong driver for new business.
“Significant revenue growth was recorded from both the International Express and Domestic Express businesses due to a continued increase in demand for global online shopping services particularly in the GCC, Europe and North America,” said Aramex. “Australia’s MailCall, acquired in 2014, contributed positively to Domestic Express as did an increase in demand for domestic services for both businesses and individuals in key markets, specifically Egypt, KSA and India.”
Commenting on the results, Hussein Hachem, Aramex Chief Executive Officer said: “We have once again delivered an excellent set of results this quarter. While we’ve had a strong double-digit net income, our revenues would have reached 10% had we not been faced with weak global currencies. We are generally pleased with our business performance and particularly with our global e-commerce business solutions.”
Looking to the future, Hussein Hachem added: “While we remain confident about extending our growth momentum and performance into the remainder of 2015, the impact of global oil prices and weak major currencies continue to be areas we will carefully monitor moving forward.”
