The company confirmed the stability of gross profit margins
Aramex's revenues amounted to 2.97 billion dirhams in the first half
Aramex's strong balance sheet will support its growth strategy.
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Aramex announced yesterday its financial results for the first half of this year, recording revenues of 2.97 billion dirhams, while net profits amounted to 91.9 million dirhams.
The company indicated, in a statement, the stability of gross profit margins at the group level during the second quarter and the first six months of this year, explaining that this is due to the rapid growth in the freight and logistics services sector, and the improvement in operational efficiency levels in the express delivery services sector.
Since the beginning of this year, Aramex has maintained a positive level of cash flow, and has a strong cash balance of 592 million dirhams.
Aramex's strong balance sheet will support its growth strategy, including investing in the development of digital and technology infrastructure, in addition to implementing mergers and acquisitions that are currently under consideration.
During the period included in these results, specifically in May 2022, the company distributed cash dividends to its shareholders for the fiscal year 2021, with a total value of 190.3 million dirhams, or 0.13 dirhams per share.
Aramex CEO Othman Al-Jedda said, “During the first half of 2022, the company witnessed important changes in its business, most notably the remarkable shift in its revenue mix, as the freight and logistics services sector achieved the strongest performance among our business sectors, contributing to compensating for the slowdown in The express delivery services sector witnessed it.”
He indicated that the double-digit growth in freight services revenues, and the growth in logistics services revenues, are due to the company's investments in expanding its operations and increasing its market share.
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