Dubai courier firm Aramex Q2 profit falls 31% on pandemic hit

Net profit declined to $17.83mln for the second quarter

  
An employee walks at the distribution warehouse unit at the Aramex Emirates head offices in Jebel Ali April 10, 2012.

An employee walks at the distribution warehouse unit at the Aramex Emirates head offices in Jebel Ali April 10, 2012.

REUTERS/Jumana El Heloueh

DUBAI - Dubai-based courier Aramex said on Thursday quarterly net profit fell 31% due to the disruptive impact of the COVID-19 pandemic on global supply chains.

Net profit declined to 65.5 million dirhams ($17.83 million) for the second quarter, compared with 94.4 million dirhams a year earlier.

The company said the business continued to invest in digital transformation to improve efficiencies and adapt to consumer and industry trends.

($1 = 3.6726 UAE dirham)

(Reporting by Hadeel Al Sayegh; Editing by Ramakrishnan M.) ((Hadeel.AlSayegh@thomsonreuters.com; +971566883310;))


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