Aramex reports 13% profit increase
Aramex has reported that a net profit of AED 103.4m for the first quarter (Q1) of 2018, up 13% on last year.
Revenue grew 8% to AED 1,190 million, due mainly to the continued growth of global e-commerce activities.
In a statement issued on Wednesday (2 May), Bashar Obeid, Chief Executive Officer of Aramex, said: “We are pleased to report another quarter of strong performance, thanks to the continued growth in global e-commerce activities and the ongoing transformation and restructuring of the business. We had a good start in the first quarter of 2018, launching several strategic initiatives to support future growth and enhancing our operational efficiencies, expanding last mile capacity and accelerating our digital transformation journey.”
Iyad Kamal, Chief Operating Officer at Aramex, added: “In Q1 2018 we continued to focus on redesigning our operations and creating a more efficient and customer-centric business model. We are committed to expanding our capacity, simplifying complex operational processes by upgrading our technology tools and investing in our employees across all functions to ensure we deliver service excellence.”
Commenting on Aramex’s outlook for the remainder of 2018, Obeid said: “We continue to maintain a positive outlook for the year, as we expect to continue to benefit from the boom in global e-commerce activities. We expect stronger contribution from e-commerce activities to our domestic express services in the future as major e-Tailers are establishing fulfillment centers in our core markets. Our focus this year will be on accelerating the digital transformation, boosting operational efficiencies and enhancing our B2B and Freight-Forwarding capabilities across the network.”