Aramex records strong second quarter net profit
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).