Aramex revenues increased 4% in the second quarter of 2019

Aramex 's revenue rose 4% to 1,299 million AED in the second quarter of 2019, compared with 1,232 million in the same period in 2018.

Growth was affected by exchange rate fluctuations in certain currencies, notably the South African rand and the Australian dollar, as well as by the strategic restructuring of local Aramex operations in India, through the disappearance of foreign exchange services. local express transport. Net income for the second quarter of 2019 increased by 1% to AED 123 million compared to 122 million AED at the same period last year.

Net income was affected by a decrease of AED 8.4 million due to the adoption of International Financial Reporting Standard No. 16 on leases.

"High demand levels in the e-commerce sector continued to increase the number of shipments processed in the second quarter, and we performed well in the area of ​​local express delivery services. , while international express services recorded significant growth rates, "said Bashar Obaid, chief executive of Aramex. Achievements reflect the strength of our brand, the high efficiency of our services and the growing competitive position we have gained in the markets. However, most of the key results we have achieved have been negatively impacted by margins, particularly in international cross-border express courier services. D in addition to changes in shipping models.

Iyad Kamal, director of operations at Aramex, said: "We saw a very positive growth in shipments in the second quarter, with shipments in the local express courier sector up 42% year-on-year. the main markets in which we find ourselves, especially in the GCC and other countries.This strong growth is due to the increasing demand for e-commerce activities, the quality of our services and the Expansion in our core markets, including Saudi Arabia, the United Arab Emirates and Egypt.

Aramex's international express services posted 11% revenue growth to AED 586 million and shipments increased 20% in the second quarter, but profit margins declined this quarter.

ARAMEX's turnover in local express services decreased by 2% to 257 million AED.

In terms of transportation services, Aramex's revenues decreased by 6% to AED 277 million.

Revenues in the area of ​​integrated logistics and supply chain management grew strongly by 17% to 85 million AEDs.