Aramex reports AED2.97 billion revenue in first half of 2022

Aramex reports AED2.97 billion revenue in first half of 2022

Aramex today announced its financial results for the first half ending 30th June 2022. The company reported revenues of AED2.97 billion, while the net profit stood at AED91.9 million.

On a group level, GP margins remained stable over both the Q2 and six-month periods, driven by accelerated growth in the Logistics and Freight-Forwarding business and efficiencies in the Courier business.

Year to date, the company has sustained a very healthy liquidity profile with positive free cash flows and a cash balance of AED592 million. Aramex's strong balance sheet will support the company's growth strategy, including investments in digital and technological infrastructure as well as its active M&A pipeline.

During the reporting period, in May 2022, the company distributed FY 2021 dividends of AED0.13 per share, or AED190.3 million, to its shareholders.

Othman Aljeda, Chief Executive Officer of Aramex, said,

"One of the greatest changes we have seen in our business in the first half of 2022 is the change in our revenue mix. Our Freight-Forwarding and Logistics business was the star performer, helping offset the softness we have seen in the Courier business.

"The double-digit top-line growth of Freight-Forwarding and the growth in Logistics is owed to our strategic investment in expanding our operations and market share, and boosting our capabilities in that business. The organic growth year to date is predominately driven by high growth sectors such as industrials, SMEs, Retail and Pharmaceuticals."

He added that their focus will be on quality earnings and better efficiencies by optimising resources and strengthening end-to-end product and service offerings across Courier, Freight, Logistics, Warehousing, and Supply Chain.

News Source: Emirates News Agency

- Advertisement -
Dark Light