Aramex International LLC
News Detail
Press release News vom 02.05.2018
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Aramex Net Profit Grows 13% in Q1 2018 Aramex Net Profit Grows 13% in Q1 2018
Dubai, UAE – May 2, 2018: Aramex (DFM: ARMX), the leading global provider of comprehensive logistics and transportation solutions, announces today its financial results for first quarter ended 31 March 2018. Aramex registered double-digit Net Profit growth of 13% in Q1 2018 to AED 103.4 million, compared to AED 91.8 million in Q1 2017. Q1 Revenue grew 8% to AED 1,190 million, from AED 1,106 million in Q1 2017, mainly attributed to the continued growth of global e-commerce activities. Bashar Obeid, Chief Executive Officer of Aramex, said: “We are pleased to report another quarter of strong performance, thanks to the continued growth in global e-commerce activities and the ongoing transformation and restructuring of the business. We had a good start in the first quarter of 2018, launching several strategic initiatives to support future growth and enhancing our operational efficiencies, expanding last mile capacity and accelerating our digital transformation journey.” Iyad Kamal, Chief Operating Officer at Aramex, added: “In Q1 2018 we continued to focus on redesigning our operations and creating a more efficient and customer-centric business model. We are committed to expanding our capacity, simplifying complex operational processes by upgrading our technology tools and investing in our employees across all functions to ensure we deliver service excellence.” Aramex's International Express business grew by 10% to AED 500 million due to the strong growth in cross-border e-commerce across most regions, specifically from Europe and the GCC markets. Asia was modestly lower in the first quarter 2018; however, the company remains confident on this region’s growth outlook for the remainder of the year. The Domestic Express business grew by 9% to AED 265 million, driven by healthy growth in domestic e-commerce activities across Aramex’s key markets, mainly in the GCC and Africa. Freight Forwarding grew by 3% to AED 284 million, as Aramex’s Oil and Gas business in the GCC and Asia benefitted from an improving oil and gas industry. Commenting on Aramex’s outlook for the remainder of 2018, Bashar Obeid said: "We continue to maintain a positive outlook for the year, as we expect to continue to benefit from the boom in global e-commerce activities. We expect stronger contribution from e-commerce activities to our domestic express services in the future as major e-Tailers are establishing fulfillment centers in our core markets. Our focus this year will be on accelerating the digital transformation, boosting operational efficiencies and enhancing our B2B and Freight-Forwarding capabilities across the network.” - Ends – About Aramex: Aramex (DFM: ARMX), the leading global provider of comprehensive logistics and transportation solutions. Established in 1982 as an express operator, the company rapidly evolved into a global brand recognized for its customized services and innovative multi-product offering. Traded on the NASDAQ from 1997 to 2002, Aramex today is a publicly traded company on the Dubai Financial Market, employing more than 17,170 people in 604 locations across 73 countries and leads a strong alliance network providing global presence, and bringing together 40 independent express companies from around the world. The range of services offered by Aramex includes integrated logistics solutions, international and domestic express delivery, freight forwarding, secure records and information management solutions, and e-services, including e-business solutions and Shop and Ship. www.aramex.com Follow us on: https://www.facebook.com/Aramex For more information, please contact: Aramex International Mohammad Al Qassem Senior Communications Manager Direct: +971 4 524 6755 Email: mohammad.alqassem@aramex.comBrunswick Group Celine Aswad Associate Direct: +971 4 560 9666 |
