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FINANCIAL NEWS
Dubai’s Aramex reports USD14.5m profit in Q3
23 Oct 2012
(MENAFN) Dubai-based courier Aramex reported an 11 percent increase in quarterly profits on higher revenue, Arabian Business reported.
The company said it made USD14.5 million net profit during the third quarter, up from USD13 million a year earlier.
Aramex also reported a 17 percent increase in quarterly revenue to USD207.7 million from USD176.92 million a year ago.
CEO Fadi Ghandour attributed the quarterly growth mainly to the growing ecommerce and sound GCC economies plus strong performance in South Africa.
Last year, Aramex bought South African-based Berco Express, which has helped Aramex expand its operations in the southern part of the continent.
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