Dubai – Mubasher: The net profits of Dubai-based Aramex, a leading global provider of comprehensive logistics and transportation solutions, increased by 1% to AED 497.4 million during fiscal year 2019 from AED 492.6 million in 2018.
Meanwhile, Aramex’s revenues rose by 3% to AED 5.246 billion in 2019 from AED 5.086 billion in the prior year, according to the company’s press release.
During the fourth quarter (Q4) of 2019, the company saw a 1% decline in net profits to AED 152.5 million from AED 154 million in the same quarter of 2018. The Q4-19 revenues grew by 3% to AED 1.463 billion, compared to AED 1.425 billion in the year-ago period.
Commenting on the company’s strong performance, the CEO of Aramex, Bashar Obeid, said: “In 2019, we strategically focused efforts on upgrading our operations and deepening our commitment to building a digital infrastructure that enables a higher service level to customers, more efficient processes to handle strong growth in shipment volumes and partial mitigation of impacts from pricing pressure, especially in our express business.”
Meanwhile, the Chief Operating Officer at Aramex, Iyad Kama, referred: “Our efforts, together with the continuous commitment and dedication of our passionate teams around the world, have enabled us to handle growth of 30% in shipment volumes in our core markets efficiently with an improvement in delivery times.”
It is noteworthy to mention that during the third quarter of 2019, the company’s net profits levelled up by 1% to AED 113.8 million from AED 112.9 million during the same period of the earlier year.
