Dubai – Mubasher: Aramex posted a 3.2% decline year-on-year in its net profits during the third quarter of 2016, according to a bourse statement.
Net profits reached AED 72.2 million ($19.65 million) in the Q3-16, compared to AED 74.6 million ($20.31 million) in Q3-15.
The year-on-year decrease in net profits was weighed down by the reduced number of working days due to public holidays, in addition to slower economic activity in the GCC region.
Revenues grew 14.5% to reach AED 1.05 billion in Q3-16, compared to AED 917 million in Q3-15.
In the first nine months of 2016, profits increased 16.2% to AED 294.8 million from AED 253.7 million in the prior-year period. Revenues went up 15% year-on-year to reach AED 3.185 billion in the same nine-month period of 2016.
