Dubai-Mubasher: Aramex reported a 36% growth year-on-year in its profits during the second quarter of 2016, according to a bourse statement.
Net profits reached AED 125.7 million ($34.22 million) in Q2-16, compared to AED 92.5 million ($25.18 million) in Q2-15.
Revenues rose 17% to AED 1.105 billion in Q2-16, compared to AED 946 million in Q2-15.
The Dubai-based courier posts profits of AED 222.5 million ($60.56 million) in H1-16, up 24% from AED 179.2 million ($48.78 million) in H1-15.
In H1-16, revenues increased 15% to AED 2.134 billion compared to AED 1.856 billion achieved in H1-15.
“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,” the statement highlighted.
