Dubai's Aramex reveals 16% net profit growth in Q3 2014
Global logistics and transportation solutions provider,Aramex has announced its financial results for the third quarter of 2014, revealing that revenues in the third quarter of 2014 was $251 million, representing a 12 percent increased compared with Q3 last year, and net profits increased 16 percent to $18.95 million.
Commenting on the results, Hussein Hachem, Aramex CEO said: “Revenues were once again particularly strong in international express and e-commerce, following our investment in last-mile infrastructure and innovative technology solutions.
"We remain well positioned to continue to capitalise on the significant opportunities in e-commerce across our growth markets.”
The GCC is a key driver of the company's growth, complemented by improved performance from its operations in Europe, Asia-Pacific and Africa, as volumes of international and domestic trade increased.
Aramex’s acquisition of Australian express company Mail Call in June has supported the growth in Q3 while strengthening Aramex’s Asia-Pacific position and creating opportunities to grow its global e-commerce business.
Mail Call has also provided Aramex with important, technology-driven delivery capabilities in Australia, enabling Aramex to take advantage of the growing e-commerce industry between Australia and Asia in particular.
In a statement, Aramex confirmed that e-commerce will remain a key focus for the remainder of 2014 and into 2015.