LOGISTICS FIRM Aramex has posted a 14 per cent increase in first-quarter net profit, helped by regional expansion and growth in emerging markets.
The Dubai-based courier company, a favourite of regional fund managers, reported a quarterly net profit of Dhs69.4 million ($18.9 million) compared with Dhs60.9 million for the year-ago period, Aramex said in a bourse statement.
Revenue for the quarter rose nine per cent to Dhs810 million. Two analysts had expected the company to post first-quarter earnings of Dhs70.6 million and Dhs71 million. Aramex has been expanding in the Middle East and Africa and bought South Africas Berco Express as well as Kenyas Oneworld Courier and In-Time Couriers last year.
