Aramex’s Q3 revenues increased to AED1.05 billion, up by 15 percent compared to AED917 million in Q3, 2015. Its net profits decreased by 3 percent to AED72.2 million, down from AED74.6 million in Q3, 2015.
Aramex, a major global provider of comprehensive logistics and transportation solutions, has made an announcement to this effect in its financial results for the last three-month (Q3) and nine-month (YTD) periods ending Sept. 30.
Adjusting to include results for the full nine-month YTD period, revenues increased to AED3.19 billion, up by 15 percent compared to AED2.77 billion in the first nine months of 2015. Net Profits increased by 16 percent to AED294.8 million, up from AED253.7 million during the same period last year.
Aramex’s strong revenue performance in the third quarter was driven by growth across most of its geographies, with the Asia-Pacific being a key contributor to this growth.
Net Profit was impacted by the reduced number of working days due to public holidays, in addition to slower economic activity in the GCC region.
Commenting on the results for the third quarter, Hussein Hachem, Aramex CEO, said: “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.”
Aramex says it is committed to building on its core asset light model by integrating digital platforms and capabilities to give the business greater speed, improved customer experience and enhanced efficiencies.
Aramex, a major global provider of comprehensive logistics and transportation solutions, has made an announcement to this effect in its financial results for the last three-month (Q3) and nine-month (YTD) periods ending Sept. 30.
Adjusting to include results for the full nine-month YTD period, revenues increased to AED3.19 billion, up by 15 percent compared to AED2.77 billion in the first nine months of 2015. Net Profits increased by 16 percent to AED294.8 million, up from AED253.7 million during the same period last year.
Aramex’s strong revenue performance in the third quarter was driven by growth across most of its geographies, with the Asia-Pacific being a key contributor to this growth.
Net Profit was impacted by the reduced number of working days due to public holidays, in addition to slower economic activity in the GCC region.
Commenting on the results for the third quarter, Hussein Hachem, Aramex CEO, said: “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.”
Aramex says it is committed to building on its core asset light model by integrating digital platforms and capabilities to give the business greater speed, improved customer experience and enhanced efficiencies.
