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Aramex’s profit slides 18% in 6M

Aramex’s profit slides 18% in 6M
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Aramex
ARMX
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Dubai - Mubasher: Aramex’s profits for the first half (H1) of 2022 fell by 18% year-on-year (YoY) to AED 91.87 million, compared to AED 111.47 million.

Revenues for the first six months (6M) of the year went down by 1% to reach AED 2.96 billion from AED 2.99 billion in the corresponding period a year earlier, according to a bourse statement on Thursday. 

In the second quarter (Q2) of 2022, the DFM-listed firm’s net profit shrank by 32% YoY to stand at AED 44.56 million, from AED 65.46 million.

The company’s revenue during Q2-22 settled at AED 1.51 billion, a 3% YoY decrease from AED 1.57 billion.

It is worth noting to highlight that in 2021, Aramex recorded a 15% decline in net profits to AED 225.37 million, compared to AED 266.65 million in the previous year.