Aramex’s Q3 revenues increased to AED1,144m, up by 9% compared to AED1,050m in Q3 2016, whilst EBITDA rose 15% to AED134.5m. Excluding global currency fluctuations, especially the Egyptian Pound, Q3 2017 Revenues would have registered double-digit growth of 11%.
Commenting on the results, Hussein Hachem, CEO of Aramex, said: “We are pleased to report strong results in Q3 with healthy growth rates in Revenues and Net Profits. All our geographies and business segments performed very well in the last three months. We also continued to witness strong cross-border e-commerce growth across key markets, especially in Asia and Asia-Pacific.”
With e-Commerce activities continuing to grow globally, Aramex’s International and Domestic Express services continue to drive the company’s positive financial performance. In addition, Freight services saw a rebound in Q3 2017 with expectations for this trend to continue for the rest of the year.
“Moving forward, we will continue to focus on growing our e-commerce proposition and expand global operations through strategic partnerships with innovative logistics and technology companies. Our most recent financial results and strong growth levels are a testament to this approach. We remain committed to keeping the momentum as we move forward for the remainder of 2017,” added Hachem.
Source: Aramex
