Dubai – Mubasher: Aramex logged net profits amounting to AED 49.45 million in the first half (H1) of 2024, higher by 15% than AED 42.86 million in H1-23.
The company’s revenues increased by 8% year-on-year (YoY) to AED 3.03 billion in H1-24 from AED 2.82 billion, according to the financial results.
Income Results for Q2
During the second quarter (Q2) of 2024, the DFM-listed firm generated an 85% plunge in net profit to AED 2.89 million, compared to AED 18.96 million in Q2-23.
Meanwhile, the revenues jumped to AED 1.49 billion in April-June 2024 from AED 1.38 million a year earlier.
Othman Aljeda, CEO of Aramex, said: “We delivered a healthy revenue growth of 8% YoY and a Net Profit increase of 15% YoY in H1-24, despite a challenging Q2-24.”
“We expanded our customer base and delivered solid volume growth across our product lines, reinforcing our stronghold and leadership position in our key markets,” Aljeda mentioned.
He indicated: “Both International Express and Domestic Express achieved significant volume growth while maintaining strong service standards. Freight Forwarding navigated a complex operating environment, delivering good growth in volumes for H1-24.”
In the first three months (3M) of 2024, the net profits after tax nearly doubled at AED 46.56 million, higher by 95% YoY than AED 23.90 million.
