Aramex has registered a 7 per cent increase in its net profit for the third quarter ended September 30, which rose to Dh74.6 million ($20.3 million) from the Dh69.5 million ($18.9 million) recorded during the same period last year.

The company’s revenues increased by 2 per cent to Dh937 million ($255.1 million), up from Dh921 million ($250.7 million) in Q3 2014, said a statement from Aramex, a leading global provider of logistics and transportation solutions.

Aramex’s third quarter performance was driven by broad-based revenue growth across all its geographies, with the GCC the largest contributor to revenues, despite the reduced number of working days due to public holidays, it said.

This was complemented by stable performance from operations in Asia-Pacific and Africa. Across all of its businesses Aramex delivered positive results, with e-commerce the highest performing segment. International and Domestic Express both maintained stable growth trajectories, it added.

Hussein Hachem, CEO, Aramex, said: “Revenue growth in Q3 was stable for the business, despite fluctuating oil prices and weaker global currencies.

“While this volatility did impact our revenues this quarter, net profit growth was still overall positive. We have entered the final quarter of the year with a strong focus on furthering our global growth strategy, pursuing strategic investments in markets both locally and abroad,” he said.

“Looking to the end of 2015 and into next year, we will remain focused on capitalising on the significant investment opportunities in e-commerce, as well as pursuing more acquisitions of companies that have suitable, scalable synergies with Aramex.

“We will also continue to further transform Aramex into a leading technology enterprise by investing in innovative solutions best tailored to customers’ needs. We will carefully monitor global oil prices and currency fluctuations and remain confident about extending our growth momentum into Q4,” added Hachem.

Aramex continues to develop its international cross-borders e-commerce offerings, operational efficiencies and strategic investments in innovative technologies across all of it markets. – TradeArabia News Service