Dubai’s Aramex Q4 Net Profit Up 17%, Beats Estimates

Dubai-based courier Aramex posted a 17 per cent rise in fourth-quarter net profit on Thursday as revenues from its domestic and international operations grew.

The company made a net profit of Dhs89.4 million ($24.3 million) in the three months to Dec. 31, up from Dhs76.4 million in the prior-year period, it said in an emailed statement.

Three analysts polled by Reuters on average forecast Aramex’s quarterly profit would be Dhs83.8 million.

Fourth-quarter revenue was Dhs959 million, up 13 per cent year-on-year.

Aramex made a 2014 net profit of Dhs318.4 million, up 15 per cent on its 2013 profit of Dhs278 million.

“Our performance was driven by solid revenue growth primarily in international and domestic express, as well as the continued expansion of our e-commerce platform across key growth markets,” chief executive Hussein Hachem said in the statement.