403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Aramex's 2017 net inches up 2%
(MENAFN- Khaleej Times) Aramex's net profits in 2017 increased by 2 per cent to Dh435.4 million compared to Dh426.6 million in 2016 as the results were impacted by the one-time fair value adjustment related to its investment in AMC Logistics joint venture in Egypt in Q2 2016.
Its 2017 revenues reached Dh4,721 million compared to Dh4,343 million in 2016, up by 9 per cent.
Its Q4 net profits reached Dh165 million, which represents an increase of 25 per cent compared to Dh131.8 million in Q4 2016. Q4 revenues registered growth of 14 per cent to Dh1,324 million compared to Dh1,158 million in the corresponding period of 2016.
Bashar Obeid, CEO, Aramex, said the results were mostly driven by the surge of cross-border e-commerce activities globally, which continue to fuel the growth of its International Express business.
"While being excited about the growth potential of global e-commerce business, we have witnessed an exceptional growth of Express volumes in Q4, which highlighted a need to boost investments in last-mile capacity solutions across all our key markets."
Aramex's International Express business grew by 22 per cent to Dh609 million. This is attributed to the strong growth in cross-border e-commerce across all regions.
Commenting on Aramex's outlook for 2018, Obeid said: "We are very confident about the growth potential in 2018 amid the continuous boom in e-commerce activities globally yet we have to remain cautious about the changing competitive environment that requires highest levels of efficiencies and operational effectiveness in meeting customers' expectations. We will be focusing on key strategic initiatives in 2018 aiming at transforming our business into a technology-driven enterprise and enhancing our operational efficiencies through various cost restructuring programmes."
Its 2017 revenues reached Dh4,721 million compared to Dh4,343 million in 2016, up by 9 per cent.
Its Q4 net profits reached Dh165 million, which represents an increase of 25 per cent compared to Dh131.8 million in Q4 2016. Q4 revenues registered growth of 14 per cent to Dh1,324 million compared to Dh1,158 million in the corresponding period of 2016.
Bashar Obeid, CEO, Aramex, said the results were mostly driven by the surge of cross-border e-commerce activities globally, which continue to fuel the growth of its International Express business.
"While being excited about the growth potential of global e-commerce business, we have witnessed an exceptional growth of Express volumes in Q4, which highlighted a need to boost investments in last-mile capacity solutions across all our key markets."
Aramex's International Express business grew by 22 per cent to Dh609 million. This is attributed to the strong growth in cross-border e-commerce across all regions.
Commenting on Aramex's outlook for 2018, Obeid said: "We are very confident about the growth potential in 2018 amid the continuous boom in e-commerce activities globally yet we have to remain cautious about the changing competitive environment that requires highest levels of efficiencies and operational effectiveness in meeting customers' expectations. We will be focusing on key strategic initiatives in 2018 aiming at transforming our business into a technology-driven enterprise and enhancing our operational efficiencies through various cost restructuring programmes."
-
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
Comments
No comment