Dubai’s Aramex estimates $15m losses from Beirut port blast, Casablanca blaze

Dubai’s Aramex estimates $15m losses from Beirut port blast, Casablanca blaze

Dubai-based logistics giant Aramex said on Thursday that it will makes provisions of more than $15 million for disruption caused to its business by the Beirut port explosion and a fire at its warehouses in Morocco.

A total of $15.1 million will appear in the company's financial statements for the third quarter as a result of the blast damage to its entire warehouse facility in Beirut and partial damage to three storage units in Casablanca recently.

Shares were acquired through a series of on-market transactions and through an off-market special deal, says ADQ

A non-recurring provision of $2.7m is related to its Beirut facilities with a further $12.4m related to the fire outbreak in Morocco, the company said in a filing to the Dubai Financial Market (DFM).

Aramex shares on the DFM were trading