Dubai – Mubasher: Aramex posted a 23% year-on-year decline in its profits during the second quarter of 2017, according to a bourse statement.
Net profits reached AED 97 million ($26.4 million) in Q2-17, compared to AED 125.7 million ($34.2 million) in Q2-16.
Revenues rose 4% to AED 1.15 billion in Q2-17, compared to AED 1.11 billion in Q2-16.
Excluding the one-time fair value adjustment, net profits would have grown by 15% year-on-year in Q2-17.
In the first half of 2017, Aramex posted profits of AED 188.7 million, up 15% from AED 222.5 million in the prior-year period.
Revenues rose 6% to AED 2.25 million in H1-17, compared to AED 2.13 million in H1-16.
