Dubai, UAE; July 22nd, 2013: Aramex (DFM: ARMX), the global logistics and transportation solutions provider, today announced its financial results for the second quarter of 2013 recording robust growth in revenues and net profits.
Revenues in the second quarter of 2013 increased to AED 845 million, up 9% compared to AED 777 million in the same period of 2012. Net profits rose to AED 72.3 million, up from AED 64.4 million over the same period in 2012, an increase of 12%.
Total revenues for the first half of 2013 grew by 9% to AED 1,650 million from AED 1,516 million in the first half of 2012. Net profits increased to AED 141.6 million, a growth of 13% over the AED 125 million recorded in the first six months of 2012.
Commenting on the results, Hussein Hachem, Aramex’s Chief Executive Officer, said: “The robust growth of our revenues and net profits in the second quarter of 2013 highlights the confidence we have in our long-term global growth strategy. Our performance in our core markets, especially in the Gulf Cooperation Council (GCC) countries remained strong, supported by growth in our express, logistics and ecommerce offerings. We also recorded good growth in our Africa operations, which made a significant contribution to Aramex’s overall performance. ”
“However, our overall organic revenue growth this quarter was modest owing to a lower growth contribution from our Europe-Asia trade routes, which have been affected by poor economic growth in European economies and weakened demand. But even with the continued uncertainties in the global macroeconomic environment and the socio-political instability in certain markets in the Middle East & North Africa, we expect to stay on target and achieve strong results going forward,” he added.
Aramex remains committed to maintaining its strategic focus on attractive growth markets in Asia and Africa, and will continue to build deeper connections between its hubs in the Middle East and Africa and its markets to fully capitalize on growing intra-Asia and Asia- Africa trade corridors. Aramex will also accelerate its plans for strategic expansions in key emerging markets in Africa and Central Asia and aims to finalize a number of new acquisitions and franchises before the end of 2013.