Aramex earns slightly more in the second quarter

: Sunday, August 03 - 2014 @ 16:24

The Dubai financial market entered the new month with a small index loss of 0.23 per cent, as the gauge finished at 4,822.25 points on Sunday, August 3.

Aramex fell by 1.50 per cent to AED3.30. The biggest logistics and courier service firm in the region said it earned AED80.815 million ($22m) in the second quarter, up from AED70.284m ($19.15m) which translates into an increase of 15 per cent.

The net income in the first half of 2014 amounted to AED176.5m, representing an increase of 8.75 per cent.

Dubai Investments Company (DIC), which is owned 11.54 per cent by the Investment Corporation of Dubai, the asset portfolio of Dubai’s ruling family Al-Maktoum, lost 0.56 per cent to end at AED3.53 that its net profit for the first six months of 2014 has surged to AED805m, an increase of 118 per cent year on year. “During the period, DI divested 66 per cent equity stake in its wholly-owned pharmaceutical subsidiary Globalpharma Co. LLC [Globalpharma] to an investor group led by Sanofi, a leading global healthcare company. The transaction contributed a profit of AED472m ($128.61m),“ said DIC.

Gérard Al-Fil

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Sunday, August 3- 2014 @ 16:24 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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