Aramex profits up

ARAMEX delivered record growth in the first six months of this year.
The Middle East-based logistics company’s half-year 2014 revenues increased to US$0.45 million [AED 1,768 million], up seven per cent on the corresponding period of 2013.
Net profits rose to $43.4 million, an increase of 13 per cent.
“Following a robust first-quarter performance, strong momentum in the business continued through Q2,” says a statement. 
The results include a one-off cost of $1.54 million for the acquisition of Australia’s Mail Call.
During the period, broad-based revenue growth was seen across all of Aramex’s geographies, with the Gulf States the key driver of this.
There were also much stronger performances from operations in Europe, Asia-Pacific and Africa, as economic conditions improved and the volumes of international and domestic trade increased.
Africa remains vital to Aramex’s expansion strategy and to its global network, as it continues to bridge new emerging market trade corridors, says the company.
Commenting on the results, Hussein Hachem, Aramex’s chief executive, is particularly pleased with the performance of the company’s e-commerce business – “and how we continue to seize the considerable international opportunities in this sector.”