Aramex reports 1% increase in 2019 profit on higher revenue – The National

Aramex reports 1% increase in 2019 profit on higher revenue – The National

Net income for the full year jumped to Dh497.4 million as revenue climbed to Dh5.2 billion. Aramex, the Middle East's biggest courier company, reported a 1 per cent increase in full-year net profit on the back of higher revenue.. Net income for the period ending December 31 climbed to Dh497.4 million, the company said in a filing to the Dubai Financial Market, where its shares trade.. Net profit for the fourth quarter dropped 1 per cent to Dh152.5m while revenue in the last three months of the year grew 3 per cent to Dh1.4bn.. "In 2019, we strategically focused efforts on upgrading our operations and deepening our commitment to building a digital infrastructure that enables a higher service level to customers, more efficient processes to handle strong growth in shipment volumes and partial mitigation of impacts from pricing pressure, especially in our express business.". The company is also investing heavily in its last mile operations, one of the most critical and competitive stages of the delivery journey, he added.. The company's domestic express business climbed 5 per cent to Dh1.1bn, driven by a rise in domestic e-commerce across GCC and Australia.. In Aramex's core markets, domestic express shipment volumes rose