Dubai's Aramex's Q2 profits up 15% on online shopping demand

Dubai-based courier Aramex reported a 15 per cent rise in second-quarter net profit on Wednesday, beating analyst forecasts as online shopping demand grew.

The company made a net profit of Dh92.6 million ($25.2m) in the three months to June 30, up from Dh80.8m in the year-ago period, Aramex said in a statement.

EFG Hermes and Sico Bahrain had forecast Aramex’s second-quarter profit to be Dh90.6m and Dh88.36m, respectively.

Second-quarter revenue rose 6 per cent year-on-year to Dh967m from Dh915m, the statement said.

The courier said it saw significant revenue growth from international and domestic business, helped by a continued increase in demand for global online shopping services, especially in the Gulf countries, Europe and North America.

Follow Emirates 24|7 on Google News.