Aramex reports profit plunge for Q4 of 2015
The logistics giant Aramex has reported a 36 percent decrease in net profit for the fourth quarter of 2015.
The Dubai-based courier made a net profit of AED 57.6 million in the three months to December 31, it said in a statement, compared with a profit of AED 89.4-million during the same quarter in 2014.
SICO Bahrain had forecast that Aramex would make a quarterly net profit of AED 97.6-million.
Annual profit for the firm was AED 311-million, down marginally from AED318-million during 2014.
In October, Aramex said it had several acquisitions in the pipeline and was expecting to close deals valued in the range of US $150 million in the next two quarters.