By: Amr Adel
Dubai-Mubasher: Aramex targets to make two of its three planned acquisitions in 2016, said the courier’s CEO Hussein Hachem.
On the sidelines of press conference in Dubai, he added that the new acquisitions will be focused on the e-commerce and express courier sector in Asia and Africa, with considering good opportunities in the US market.
Hachem noted that $150 million is allocated for the new deals in 2015, including the acquisition of Australian/New Zealand firm Fastway Couriers for $80.59m last month.
He expected the new warehouses in Dubai Central World to be launched in the coming two months.
Hachem expected the profits to grow 10-12% in 2016, backed by the strong growth of revenues from express courier, as well as the continuous expansion in e-commerce services.
He also anticipated revenues to rise 10%, in addition to the effect of new acquisitions in Australia.
Excluding the effect of provisions and incentives, profits grew 12% annually and 16% on monthly basis, according to CEO.
Aramex allocated $12.5m to the incentive scheme in 2015, and would spend roughly $5m and $2.5m in 2016 and 2017 respectively, said the company's Finance Manager Bashar Obeid.
Translated by: Julian Nabil
