She said Aramex In a statement on Dubai marketDuring the third quarter of 2024, it achieved revenues amounting to about 1.6 billion dirhams (about 433 million dollars), recording a noticeable increase of 18 percent year-on-year.
The company attributed this growth to: Revenue To a steady increase in the number of shipments across all business sectors.
On the other hand, Aramex’s net profits reached 27 million dirhams during the third quarter of 2024, an increase of 177 percent year-on-year, which supports the company moving forward towards achieving its strategic goal to improve Profitability.
During the first nine months of 2024, net profits reached 76 million dirhams, representing an increase of 45 percent compared to the same period last year.
While revenues grew during the first nine months by 11 percent to reach 4.6 billion dirhams, driven by strong contributions from the four main business sectors, according to the company statement.
By September 30, it reached Tax Actual for the past twelve months is 21 percent. The company expects this percentage to rise to about 27 percent for the full year as a result of anticipating non-recurring cost items, in addition to the change in the profit mix during the year, with additional contributions to profits from regions with higher tax rates.
Aramex continues to maintain its strong financial position, with a cash balance of AED 447 million, and a net debt ratio of 2.1 times EBITDA at September 30, 2024 (applying IAS 16).