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FINANCIAL NEWS
Dubai’s Aramex reports USD19.7m profit in Q2
23 Jul 2013
(MENAFN) Dubai-based courier Aramex posted a 12 percent increase in quarterly earnings, driven by growth in core Gulf and African markets, Reuters reported.
The company said it made USD19.7 million net profit during the second quarter, up from USD17.6 million a year earlier.
Aramex also reported a 9 percent increase in quarterly revenue to USD230 million from USD211.5 million a year ago.
Aramex has bought South Africa’s Berco Express as well as Kenya’s Oneworld Courier and In-Time Couriers last year as part of its expansion strategy in the Middle East and Africa.
The company said it would accelerate plans for expansion in Africa and central Asia and aimed to finalize a number of new acquisitions and franchises before the end of 2013.
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