Dubai – Mubasher: The net profits attributable to the shareholders of Aramex grew by 10% to AED 141.81 million in 2024 from AED 129.29 million in 2023, according to the financial results.
The company posted revenues amounting to AED 6.32 billion last year, up 11% from AED 5.69 billion in the January-December 2023 period.
Basic and diluted earnings per share (EPS) from continuing operations went up to AED 0.09 as of 31 December 2024 from AED 0.08 a year earlier.
Financials for Q4-24
In the fourth quarter (Q4) of 2024, the net profits dropped by 14% to AED 65.66 million from AED 76.78 million in Q4-23. Revenues climbed by 11% to AED 1.69 billion from AED 1.52 billion.
Othman Aljeda, CEO of Aramex, said: “A major industry shift this year has been the acceleration of nearshoring, with businesses repositioning inventory closer to their consumer markets to improve delivery speed and flexibility.”
“Aramex has a clear competitive advantage to cater to this trend, thanks to its integrated solutions. We have gained significant volumes from several businesses that we have helped nearshore their stock in our key markets,” Aljeda noted.
He indicated: “Domestic volumes were up 11%, international express volumes were up 20% and our contract logistics business is operating near full capacity.”
As of 30 September 2024, the DFM-listed firm achieved net profits valued at AED 76.94 million, an annual leap of 45% from AED 51.36 million.
