Aramex net profits up 14% to AED278m

Aramex, a global logistics and transportation solutions provider, has announced its full year financial results for 2013, delivering another record year of net profits — the ninth consecutive year of record profits since listing on the DFM.
Aramex's Q4 2013 revenues increased to AED850 million, up 5 percent compared to AED808 million in the corresponding period of 2012, and net profits rose to AED76.4 million, up from AED65.7 million in Q4 2012, an increase of 16 percent.
Aramex’s 2013 full year revenues reached AED3,325 million, up 8 percent compared to AED3,072 million in the previous year. Aramex reported full year net profits of AED278 million, an increase of 14 percent compared to AED244 million in 2012.
Commenting on the results, Aramex CEO Hussein Hachem said: “Aramex has had another very strong set of results in 2013, despite the challenging global market conditions. Our performance was driven by solid revenue growth primarily in international express and supply chain services across our key geographies and growth markets in the Middle East and sub-Saharan Africa.”
International Express recorded a strong performance in Q4 with revenues up 11 percent to AED285 million. Full year revenues were up 9 percent in 2012 at AED1,057 million, driven primarily by robust e-commerce growth in Aramex’s core markets off the back of a continued increase in demand for global online shopping services across international markets.
The e-commerce industry in emerging markets in the Middle East, Africa and Asia is developing at a rapid rate and capitalizing on these trends will remain a major strategic focus for Aramex, with global e-commerce revenues growing by 23 percent in 2013.
Domestic Express saw revenues of AED162 million, an increase of 3 percent in Q4. Full year revenues were AED645 million, an increase of 9 percent on 2012. Growth in Domestic Express lagged International Express due primarily to continuing slow economic conditions in Europe and Asia, offset by robust performance in MENA.
Logistics and supply chain management also performed strongly. Revenues in Q4 grew 11 percent to AED 45 million, with full year revenues growing 23 percent to AED 170 million, driven by increased demand for retail and oil and gas services across the GCC in particular.
Freight had slower growth due to continued competitive environment mainly in Europe and Asia, with Q4 revenues up 1 percent to AED304 million and full year revenues up 6 percent to AED1,235 million.