Aramex announces net profits growth of 13 per cent in the Q3 2017
Aramex (DFM: ARMX), a leader in the global logistics and transportation industry, announced today its financial results for Q3 ending 30 September 2017.
Aramex’s Q3 net profits have increased by 13 per cent to AED 81.6 million, up from AED 72.2 million in Q3 2016. Revenues in the third quarter have also increased to AED 1,144 million, up by nine per cent compared to last year’s AED 1,050 million in Q3 2016. Excluding global currency fluctuations, especially the Egyptian pound, Q3 2017 Revenues would have registered double-digit growth of 11 per cent.
“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,” said Hussein Hachem, CEO of Aramex.
With e-commerce activities continuing to grow globally, Aramex’s international and domestic express services continue to drive the company’s positive financial performance. In addition, freight services saw a rebound in Q3 2017 with expectations for this trend to continue for the rest of the year.
“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. Our most recent financial results and strong growth levels are a testament to this approach. We remain committed to keeping the momentum as we move forward for the remainder of 2017,” added Hachem.
Aramex is heavily focused on becoming a technology-based enterprise. It will continue to implement new, innovative technologies to support this transition and pursue strategic partnerships to further enhance its products and services. This will remain to be a key priority for 2017 and into 2018.