Aramex reports 15% jump in Q3 revenues
Aramex has reported that its revenues for the third quarter (Q3), which ended on 30 September, were AED 1,050m, up by 15% compared to AED 917m in Q3 2015. Net profits, however, fell by 3% to AED 72.2m, down from AED 74.6m in Q3 2015.
Aramex said that its strong Q3 revenue performance was driven by growth across most of its geographies, with the Asia-Pacific being a “key contributor”. The company attributed the drop in net profit to the “reduced number of working days due to public holidays, in addition to slower economic activity in the GCC region”.
Hussein Hachem, Aramex CEO, commented: “Revenue growth was positive, with most geographies and business segments performing strongly. Cross border e-commerce was the key driver of this growth and will continue to drive Aramex’s business strategy and expansion plans forward.
“Looking ahead, we are pursuing partnerships with innovative logistics and technology companies to further transform Aramex into a leading technology enterprise, grow our e-commerce proposition and sustainably expand the business. While we remain confident in this approach, we are also cautious in our outlook due to global economic uncertainties.”