Dubai – Mubasher: Dubai-based logistics firm Aramex has generated a robust profit in the second quarter of 2018, helped by an increase in demand for its services, along with its restructuring plans, CEO Bashar Obeid said.

The international logistics and transportation company also saw a major growth in freight forwarding services, particularly from the oil and gas sector, bringing the freight-forwarding business revenues to AED 296 million during Q2-18, Obeid added in a statement to the Dubai Financial Market (DFM).

The rise in oil and gas sector’s business in various regions, especially in the GCC and Africa, coupled with a strong performance in Asia contributed to bolstering Aramex's freight forwarding business by 2% to AED 579 million during the January-June period of 2018.

“We will continue to deliver on our digital transformation strategy, we are confident our efforts will reflect positively on our financial performance while enabling us to drive efficiencies and improve our processes by trimming costs and becoming leaner,” the CEO noted.

Earlier on Wednesday, the courier firm reported a 26% year-on-year increase in net profits for Q2-18, reaching AED 122 million, from AED 97 million in Q2-17, while revenues grew 7% to AED 1.23 billion, from AED 1.14 billion.

Aramex’s profit levelled up 20% to AED 225.7 million during the first six months of 2018, from AED 188.7 million during H1-17, while revenues rose 7%, reaching AED 2.4 billion, compared to AED 2.3 billion.