Dubai – Mubasher: Aramex’s stock rose in Sunday’s early trade by 0.6%, backed by growth in the company’s profits in the first quarter of fiscal 2016.
The stock jumped to AED 3.44 after 454,000 shares were exchanged at AED 1.55 million.
The Dubai-listed courier’s net profit reached AED 96.9 million ($26.38 million) in Q1-16, rising 12% compared to AED 86.6 million ($23.58 million) in Q1-15.
Aramex earlier reported a net profit of AED 311 million ($84.67 million) in the fiscal year 2015, 2.2% down from AED 318 million ($86.58 million) in the fiscal year 2014.
