Aramex announced a 4 percent rise in second quarter revenue to AED 1,279 million, compared to the same period 2018.
Commenting on the results, Bashar Obeid, Chief Executive Officer of Aramex, said:
“Strong demand from e-commerce continues to spur growth in volumes we handled over the second quarter.
Our Domestic Express registered outstanding performance and International Express also enjoyed double digit growth. This is a testament to our strong brand, efficient services and increasingly competitive positioning. However, lower yields, mainly on the cross-border International Express business and changes in fulfilment models, moderated our top line figures and profitability.
Freight-Forwarding business performance came below expectations as it was affected by the regional economic uncertainty, however, today our efforts continue to be focused on commercial restructuring, which will enable us to grow that business line over the long term.
Our Integrated Logistics and Supply Chain Management business had another great quarter, as a result of our efforts to capitalise on the growing demand for those services, especially from regional retailers wanting to tap omni-channel sales.”