Dubai-based logistics solutions provider Aramex has recorded US$33.2 million in profit in Q1, 2018, signalling a 26% increase on its previous Q2 in 2017.
CEO of Aramex Bashar Obeid said: “We are extremely pleased with our results this quarter, which are attributed to the increase in demand for our services across most of our businesses and to our restructuring efforts.
“We continue to witness a boom in the global e-commerce market, and have been able to reap the benefits of that trend by boosting our investments in last-mile delivery solutions while enhancing our service levels.
“We also had encouraging growth in our Freight Forwarding services specifically from the Oil and Gas segment, which enjoyed a double-digit growth this quarter.
“Moving forward, we will continue to deliver on our digital transformation strategy.
“We are confident our efforts will reflect positively on our financial performance while enabling us to drive efficiencies and improve our processes by trimming costs and becoming leaner, which will ultimately enhance the customer experience and expand our bottom line.”
Aramex Net Profit up 13% in Q1, 2018
Aramex's International Express also recorded significant growth in Q2, with volumes up 10% when compared to Q2, 2017.
Domestic Express grew by 6% under the same bracket.
Iyad Kamal, chief operating officer at Aramex, added: “We are very proud of the progress we have made this year in enhancing our service levels and efficiently meeting the last-mile capacity needs of our clients globally.”
“This year, we have significantly improved our service levels and transit times both, globally and regionally, which is a direct reflection of our investments in delivery capabilities and entering into strong, strategic partnerships to upgrade our services in Europe and the Americas.
“Innovation, which is a key pillar of our strategy, continues to drive solutions across the company’s operations to boost customer experience and maximize efficiencies.”
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