Aramex announces 13% net profit growth in third quarter of 2013
Aramex, the global logistics and transportation solutions provider, announced its financial results for the third quarter of 2013, delivering another strong performance. Aramex’s revenues in the third quarter of 2013 increased to Dhs827m, up 9% compared to Dhs758m in Q3 2012. Net Profits increased 13% to Dhs59.9m, up from Dhs53.1m in Q3 2012.
Commenting on the results, Hussein Hachem, Aramex CEO, said, “We are pleased to have delivered another strong set of quarterly results. Our continued focus on performance optimization and efficiencies allowed us to stay on target and deliver sustainable Q3 revenues.”
Revenues from Aramex’s core market operations in the Middle East and North Africa (MENA) region have been robust despite the prolonged low-trading season at the beginning of the third quarter. Sub-Saharan African markets continue to record strong growth, with South Africa playing an increasingly important role in Aramex’s global network.
Across its core businesses in express, logistics, freight and e-commerce Aramex continued to deliver solid results during the third quarter of 2013, particularly in the e-commerce sector. In line with its focused development strategy for ecommerce, Aramex sustained its efforts to connect growth markets across Africa and Asia through the expansion of its B2C services to eight origin cities including Istanbul, Johannesburg, Hong Kong and Mumbai.
“We have entered the final quarter of the year with very good momentum in our business, maintaining our focus on our global growth strategy,” added Hachem. “We have expanded our industry supply chain solutions, in particular for the oil and gas sector and we expect to extend these services to additional markets. We have also succeeded in expanding our footprint through franchising and acquisitions in sub-Saharan Africa and Central Asia – markets that will be key to our future development – and we will continue to focus on expansion in these markets in 2014.”