Aramex (DFM: ARMX), the leading global logistics and transportation solutions provider, today announced its Full Year Financial Results for 2014 – the tenth consecutive year of record profits since the company was listed on the DFM.
The company’s 2014 Full Year Revenues reached AED 3,650 million, up 10% compared to AED 3,321 million in the previous year while Full Year Net Profits touched AED 318.4 million, an increase of 15% compared to AED 278 million in 2013. Aramex’s 2014 growth was supported by robust growth in the last quarter of the year. Q4 revenues increased to AED 959 million, up 13% compared to AED 850 million in the corresponding period of 2013, while net profits rose to AED 89.4 million, up from AED 76.4 million in Q4 2013, an increase of 17%.
Commenting on the results, Hussein Hachem, Aramex Chief Executive Officer said: “Aramex has had another very strong set of results in 2014. Our performance was driven by solid revenue growth primarily in international and domestic express, as well as the continued expansion of our innovative e-commerce platform across key growth markets. Aramex also achieved solid growth across its geographies, with the GCC remaining the largest contributor to revenues in 2014.”
Aramex’s International Express business recorded a strong performance in Q4 with revenues growing 18% to AED 335 million. Revenues were driven primarily by robust e-commerce growth in Aramex’s core and growth markets supported by the solid performance in the sector in both Europe and the U.S. Going forward, Aramex expects significant express opportunities in these markets.
The Domestic Express business saw revenues of AED 203 million in Q4, an increase of 26% from Q4 last year. This is due to increased demand for Aramex domestic services for both businesses and individuals in key markets. In addition, our recent acquisition of Australia-based Mail Call Couriers was a significant contributor to this growth.
Aramex’s Logistics and Supply Chain Management business also performed strongly. Revenues in Q4 grew 19% to AED 54 million, with Full Year revenues growing 17% to AED 198 million, driven by increased demand for retail and oil and gas services.
Read more: aramex.com