Aramex records double digit profit growth

Middle Eastern express delivery company Aramex has announced an uplift in profits of 13% in the third quarter (Q3) to AED81.6 million. Revenues were up by 9% to AED 1.144 billion.

Commenting on the results, Hussein Hachem, CEO of Aramex, said: “We are pleased to report strong results in Q3 with healthy growth rates in revenues and net profits.

“All our geographies and business segments performed very well in the last three months. We also continued to witness strong cross-border e-commerce growth across key markets, especially in Asia and Asia-Pacific.”

Hachem added: “Moving forward, we will continue to focus on growing our e-commerce proposition and expand global operations through strategic partnerships with innovative logistics and technology companies.”

This growth reflects that of delivery firms in geographical areas where there is growth to be had, and those focusing on e-commerce. The bigger companies that have logistics in the mix tend to have slower growth profiles as logistics isn’t benefitting so much from the global e-commerce boom. Aramex is well placed in that the countries in which it operates have vast untapped resources with large groups of people without access to the internet – as against a UK company perhaps it as reserves for growth long into the future while other countries may mature sooner.
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