DUBAI: Dubai-based Aramex said net profit for the opening three months of 2014 rose by 14 percent to AED78.7 million ($21.4 million), driven by higher revenues in core Middle Eastern markets as well as sub-Saharan Africa and Asia.

The courier company, a favorite of regional fund managers, said in an e-mailed statement that revenue climbed to AED852 million, compared to AED803 million in the first quarter last year.

Aramex CEO Hussein Hachem said the company remains bullish about the current year and will continue to aggressively invest in core markets.

“We will be actively pursuing acquisitions in sub-Saharan Africa and Asia, expand our oil and gas services in north and east Africa and will continue to build on our e-commerce proposition through the remainder of 2014,” he said.

Aramex operates in various Arab Spring countries like Egypt, Libya and Syria.