Q2-2018 net profit jumped 26% to AED 122mn; revenue increased 7% to AED 1,232mn
Aramex announced its financial results for the second quarter and first half year ended 30th June 2018. E-commerce and company’s restructuring efforts have boosted the company’s profitability, the company noted.
Aramex’s Q2-2018 net profit surged by 26% to AED 122mn, compared to AED 97mn in Q2-2017, and the company’s net profit in the H1-2018 increased by 20% to AED 225.7mn compared to AED 188.7mn for the corresponding period of 2017.
Revenues for the quarter rose by 7% to AED 1,232mn, compared to AED 1,147mn in the corresponding period of 2017. H1-2018 revenue reached AED 2,422mn, up by 7% compared to AED 2,253mn in the same period 2017.
“We are extremely pleased with our results this quarter, which are attributed to the increase in demand for our services across most of our businesses and to our restructuring efforts,” remarked Bashar Obeid, Chief Executive Officer of Aramex. He also noted the encouraging growth in the company’s freight forwarding services specifically from the oil and gas segment which enjoyed a double-digit growth this quarter.
“This year, we have significantly improved our service levels and transit times both, globally and regionally, which is a direct reflection of our investments in delivery capabilities and entering into strong, strategic partnerships to upgrade our services in Europe and the Americas,” observed Iyad Kamal, Chief Operating Officer, Aramex.
