Aramex has announced its financial results for 2016. It recorded significant year-on-year improvements in both revenues and net profits. The former increased by 15.66% year-on-year to AED4,343m, whilst the latter rose 37.04% to AED426.6m. This had the impact of raising the company’s net profit margin by 1.53 percentage points, to 9.82%.
The improvements were driven by a combination of acquisition activity and business relating to e-commerce. The company’s takeover of Fastway Limited, investment in AMC Logistics’ Joint Venture in Egypt, and joint venture with Australia Post all had an impact on earnings.
Commenting on the results, the Aramex Chief Executive Officer said: “We are extremely pleased to report record results with our 2016 financial performance. Despite global economic uncertainty and the slowdown in the GCC region, our asset-light business model enabled us to respond quickly to volatility, outperform the market and deliver on our promise. Our commitment to innovation and technology were two core areas of focus this year, allowing us to enhance our customer experience and expand our business operations. We will continue to leverage this strategy, finding innovative ways to develop our global express solutions to serve the growing demand for our last-mile solutions across all our markets.”
Commenting on the outlook of the company into 2017, he added: “These robust results have put us in a strong position to deliver on our ongoing business strategy as we move into the new fiscal year. Looking ahead, we will continue to focus on investing in technology to further transform the business into a technology-driven enterprise and lead the market by sourcing disruptive, digital-based solutions. While we remain confident in this approach, we are also cautious in our outlook due to global economic uncertainties, however, we are excited about the positive growth we have achieved so far and look forward to carrying this momentum into 2017.”