DUBAI: Dubai logistics firm Aramex reported a 12 percent rise in second-quarter net profit on Monday, boosted by growth in core Gulf and African markets.
Aramex posted a second-quarter net profit of 72.3 million dirhams or $19.7 million compared with 64.6 million dirhams in the corresponding period of 2012.
The result was in line with market expectations; four analysts polled by Reuters had estimated on average a second-quarter net profit of 72.1 million dirhams.
Revenue for the quarter rose to 845 million dirhams, up 9 percent from 777 million dirhams in the prior-year period.
Aramex, a favourite of regional fund managers, has been expanding in the Middle East and Africa and bought South Africa's Berco Express as well as Kenya's Oneworld Courier and In-Time Couriers last year.
The company said it would accelerate plans for expansion in Africa and central Asia and aimed to finalise a number of new acquisitions and franchises before the end of 2013. (Reuters)
