Aramex first half net profits up 24 per cent
Net profit for the first half of 2016 reached Dh222.5 million
Dubai: Aramex, the Dubai-listed logistics firm, posted a 24 per cent growth in net profit for the first half of this year to Dh222.5 million.
According to a statement on the Dubai Financial Market on Thursday, the double-digit growth in net profit was impacted by a one-time fair value adjustment related to Aramex’s investment in AMC Logistics joint venture in Egypt amounting to Dh41.6 million.
Revenues for the first six months of 2016 reached Dh2.1 billion, up 15 per cent compared to the same period in 2015.
In terms of quarterly performance, Aramex recorded a 36 per cent increase in net profit to Dh125.7 million and a 17 per cent rise in revenue to Dh1.1 billion in the second quarter of this year compared to the same period in 2015.
