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Aramex Posts 10% profit growth in the first quarter of 2015

Aramex (DFM: ARMX), the leading global logistics and transportation solutions provider, has announced its financial results for the first quarter of 2015. Aramex’s Net Profits increased 10% to AED 86.6 million, up from AED 78.7 million in Q1 2014. Revenues in the first quarter of 2015 increased to AED 930 million, up 9% compared to AED 852 million in Q1 2014.

Aramex’s solid performance was driven by growth across all its geographies with the GCC remaining the largest contributor to revenues. International express performed well supported by the continued expansion of the company’s e-commerce platform across key growth markets. Domestic Express also saw an increase due in part to the company’s recent acquisitions in both Australia and South Africa and due to an increase in demand for domestic services for both businesses and individuals in its key markets.

Commenting on the results, Hussein Hachem, Aramex CEO said: “Although we witnessed slower growth at the beginning of the quarter we finished Q1 strongly despite challenges brought about by low oil prices and weak global currencies. While the volatility in global currencies impacted our revenues, a strong US dollar presents us with opportunities for acquisitions.”

“As such, we are confident about extending our growth momentum and performance into the remainder of 2015. Our traction is driven by innovation, investments in future growth and a company-wide focus on improved operational efficiencies through strategic investments in digital transformational technologies aimed at enhancing customer experience.”

E-commerce will continue to be the key theme of Aramex’s business expansion, supported by investments in technology. Aramex will continue to remain bullish on its outlook in the Middle East, Asia and Africa investigating more acquisition opportunities with companies that add to and complement its existing infrastructure.

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