Aramex Q1-2022, Significant and sustained growth in Freight-Forwarding and Logistics Business supports profit growth
Aramex recently announced its financial results for the first quarter Q1-2022 ended 31st March 2022.
Q1 2022 Revenues rose 2% YoY to AED 1.45 bn (US$ 395mn) driven by strong performance in logistics & freight-forwarding business. Net profit for Q1-2022 rose 3% YoY to AED 47mn (US$ 12.8mn) . Excluding the impact of write-offs from discontinued technologies, Normalized Net Profit for the period increased 14% YoY to AED 52mn (US$ 14.16mn).
“Aramex is off to a strong start in 2022. We produced a solid financial and business performance as we continue to execute on our ambitious growth strategy delivered through our recently redesigned and more focused operating model,” observed Othman Aljeda, CEO, Aramex.
“Achieving near Q1-2021 volumes is impressive and suggests that despite a resumption to life as normal, consumers have adapted to a new way of local shopping, and we believe this will continue to drive sustain growth in this segment,” commented Alaa Saoudi, Chief Operating Officer–Express.
“Over the past three months we sustained our growth momentum. Supported by our revamped operating model, we built deeper expertise and understanding of the business, market dynamics and customer needs,” remarked Mohammad Alkhas, Chief Operating Officer–Logistics & Freight-Forwarding.
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