Aramex (DFM: ARMX), a leading global provider of comprehensive logistics and transportation solutions, today announced its financial results for the second quarter of 2016. Aramex’s Net Profits increased by 36% to AED 125.7 million, up from AED 92.5 million in Q2 2015. Revenues were also up 17%, to AED 1,105 million compared to AED 946 million over the corresponding period of the previous year.
Aramex’s Half Year 2016 Revenues increased year-on-year to AED 2,134 million, up 15% compared to AED 1,856 million for the corresponding period of 2015. Net Profits during the same period rose to AED 222.5 million, up from AED 179.2 million in the first half of 2015, a year-on-year increase of 24%. Overall Net Profits registered double-digit growth, impacted by a one-time fair value adjustment related to Aramex’s investment in AMC Logistics joint venture in Egypt amounting to AED 41.6 million.
Commenting on the results, Hussein Hachem, Aramex CEO said: “We are pleased with our Q2 financial performance. Despite global economic uncertainty, continuing oil price volatility and currency fluctuations, our results for the quarter were strong. However, though we finished strongly, we experienced slowing growth at the end of the quarter. We are closely watching this trend so we can quickly adjust to further volatility and remain cautiously optimistic about continuing our growth momentum into the second half of 2016.”
Read more at aramex.com