Aramex, a leading global logistics solutions provider, has reported a net profit of Dh92.6 million ($25.2 million) for the second quarter (Q2) of the year, as compared to Dh80.8 million for Q2 2014, marking an increase of 15 per cent.

Revenues were also up 6 per cent, to Dh967 million compared to Dh915 million over the corresponding period of the previous year.

Following a robust Q1 performance, Aramex's half year 2015 revenues increased year-on-year to Dh1.896 billion, up 7 per cent compared to Dh1.765 billion for the corresponding period of 2014.

Net profits during the same period rose to Dh179.2 million, up from Dh159.5 million in the first half of 2014, a year-on-year increase of 12 per cent.

Aramex delivered strong and broad-based revenue growth across its geographies, despite currency fluctuations. Overall net income was extremely healthy, with strong performances across all of Aramex’s territories, while the GCC remained the key driver of this growth.

Significant revenue growth was recorded from both the international express and domestic express businesses due to a continued increase in demand for global online shopping services particularly in the GCC, Europe and North America.

Australia’s MailCall, acquired in 2014, contributed positively to domestic express as did an increase in demand for domestic services for both businesses and individuals in key markets, specifically Egypt, Saudi Arabia and India.

Growth in the freight business was negatively impacted by the recent drop in global oil prices and currency fluctuations, while logistics recorded a particularly strong performance mostly driven by growth in core GCC markets and South Africa.

Hussein Hachem, Aramex chief executive officer said: “We have once again delivered an excellent set of results this quarter. While we’ve had a strong double-digit net income, our revenues would have reached 10 per cent had we not been faced with weak global currencies. We are generally pleased with our business performance and particularly with our global e-commerce business solutions.”

Regarding Aramex’s outlook for the remainder of 2015, Hachem stated: “We continue to invest in our future, transforming ourselves into a technology enterprise selling business solutions, staying light in asset while managing the process of supply and demand.”

“We will also continue to seek potential acquisitions in the second half of 2015, for companies sharing the same synergy with us, and for that we have made available of a new line of credit from a consortium of banks in the UAE.

"While we remain confident about extending our growth momentum and performance into the remainder of 2015, the impact of global oil prices and weak major currencies continue to be areas we will carefully monitor moving forward,” he added. – TradeArabia News Service