Aramex Q4 2023 profit more than doubles to $21m

Aramex Q4 2023 profit more than doubles to $21m

Dubai-listed logistics company Aramex said net profit more than doubled to AED 76.78 million ($20.90 million) in the fourth quarter of 2023 from AED33.86 million a year ago. The company reported a marginal one percent year-on-year decline in Q4 2023 revenue to AED1.52 billion, despite challenging market conditions and currency fluctuations. “Q4 2023 has proven to be exceptional, marked by record […]Dubai-listed logistics company Aramex said net profit more than doubled to AED 76.78 million ($20.90 million) in the fourth quarter of 2023 from AED33.86 million a year ago.

The company reported a marginal one percent year-on-year decline in Q4 2023 revenue to AED1.52 billion, despite challenging market conditions and currency fluctuations.

“Q4 2023 has proven to be exceptional, marked by record quarterly international express volumes and improved profitability of the group,” said CEO Othman Aljeda.

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The GCC and Middle East, North Africa & Turkey (Menat) continued to account for half of the company’s total group revenue and gross profit in Q4 2023.

“Despite mixed economic indicators across these markets, we achieved growth in gross profit of six percent in the GCC and 32 percent in Menat. Our global operations are expanding, and we see opportunities across