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Aramex net profit up 14% to Dh278m in 2013

Dubai: Aramex, a logistics and transportation solutions provider, recorded a net profit of Dh278 million in 2013, an increase of 14 per cent compared to Dh244 million in 2012, according to a company statement on Sunday.

Aramex’s revenues for the year reached Dh3,325 million, up eight per cent compared to Dh3,072 million in 2012.

“Our role in driving global connectivity by deepening trade links between high-growth markets is paying off. In 2014, we will be actively pursuing acquisitions across these trade routes,” Hussain Hachem, CEO of Aramex, said in a statement.

Net profit for the fourth quarter of 2013 reached Dh76.4 million, up 16 per cent from Dh65.7 million during the same period in 2012, as per the statement.

Revenue for the same period stood at Dh850 million, an increase of five per cent from Dh808 million during the corresponding time a year ago.

The company’s positive performance was driven by revenue growth in international express and supply chain services across key geographies and growth markets in the Middle East and sub-Saharan Africa, according to Hachem.

International express’ revenues were up 11 per cent to Dh285 million in the fourth quarter of last year, while logistics and supply chain management’s revenue grew by 11 per cent to Dh45 million, as per the statement.

Aramex said that the Gulf Cooperation Council countries were the largest contributor to its revenue in 2013, while Africa also contributed to the company’s overall performance.