Aramex, a leading global logistics solutions provider, has posted a net profit of Dh86.6 million ($23.5 million) during the first quarter (Q1) of the year, up from Dh78.7 million ($21.4 million) in Q1 2014, marking an increase of 10 per cent.

Revenues in the first quarter of 2015 increased to Dh930 million ($253 million), up 9 per cent compared to Dh852 million ($232 million) in Q1 2014.

Aramex’s solid performance was driven by growth across all its geographies with the GCC remaining the largest contributor to revenues, a company statement said.

International express performed well supported by the continued expansion of the company’s e-commerce platform across key growth markets. Domestic Express also saw an increase due in part to the company’s recent acquisitions in both Australia and South Africa and due to an increase in demand for domestic services for both businesses and individuals in its key markets.

Hussein Hachem, Aramex CEO said: “Although we witnessed slower growth at the beginning of the quarter we finished Q1 strongly despite challenges brought about by low oil prices and weak global currencies. While the volatility in global currencies impacted our revenues, a strong US dollar presents us with opportunities for acquisitions.”

“As such, we are confident about extending our growth momentum and performance into the remainder of 2015. Our traction is driven by innovation, investments in future growth and a company-wide focus on improved operational efficiencies through strategic investments in digital transformational technologies aimed at enhancing customer experience,” he added.

E-commerce will continue to be the key theme of Aramex’s business expansion, supported by investments in technology. Aramex will continue to remain bullish on its outlook in the Middle East, Asia and Africa investigating more acquisition opportunities with companies that add to and complement its existing infrastructure, said Hachem. – TradeArabia News Service