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Bahri’s third-quarter net profit jumps 81% driven by logistics services sector growth
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Aramex says strong demand from e-commerce continues to spur growth in volumes
The profit results for the year were driven by its logistics and aviation services, with these sectors seeing revenue growth of 13% and workforce growth of 16%.
Total revenue for the quarter under review stood at SAR 1.7 billion, as compared to SAR 1.45 billion in the year-ago period.
The company’s sustained efforts to enhance its maritime capabilities and offerings and the better performance of its five business units helped report solid results in 2018, said Abdullah Aldubaikhi, CEO, Bahri
Bashar Obeid, chief executive officer of Aramex, said the results were a product of ongoing growth in e-commerce demand in the region, as well as internal efforts to cut operational costs.
The revenue growth was driven by containerised volume growth across all three regions and the impact of new acquisitions including Drydocks World LLC (Drydocks), Dubai Maritime City (DMC) and Cosmos Agencia Marítima (CAM), the company said in a statement.
