Aramex records strong second quarter net profit

Global logistics firm's second quarter profit exceeds $17 million.
Aramex, Logistics, Net profit, Shares, Uae, NEWS

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Global logistics and transport company Aramex, has announced its fiscal second quarter net profit rose to approximately US$17.8 million, reports Gulf News.

That figure is up from approximately $16.8 million in the corresponding period last year.

"Aramex's second quarter net profit exceeded our expectations," an analyst at EFG-Hermes told Gulf News.

The firm has increased its asset share during the six months ending June 30, acquiring a controlling stake in two African based freight forwarding companies.

Despite the results, Aramex's shares fell yesterday closing 0.54 per cent lower at Dh1.83 on the Dubai Financial Market (DFM).

 

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