Aramex expects acquisitions to boost profit

February 6, 2015 | By RetailME Bureau

Dubai-based Aramex expects profit to grow by at least 10% in 2015. It posted a 17% increase in fourth quarter net profit to $24.34 million from the year-earlier period, with full-year net profit rising 15% to $86.68 million.

The company made two acquisitions last year and is eyeing up to three new takeovers this year as part of its expansion plans in the MENA region, sub-Saharan Africa and Asia.

Aramex has the appetite for bigger acquisitions and plans to borrow more this year than last year to help finance such takeovers. “You will probably see us doing a few million-dollar acquisitions and if anything interesting or exciting comes our way, we will not rule it out,” shares Aramex CFO Bashar Obeid.

Currently present in 18 African markets with nine target markets, Aramex wants to expand in countries such as Nigeria, Kenya and South Africa. It is expanding through acquisitions, joint ventures and franchise agreements. It expects to generate more revenue from its non-Middle East operations as it grows in Africa and Asia. Currently revenue in the Middle East generates about 50% of Aramex’s total revenues.

“E-commerce is growing about 30% within Aramex year-on-year and we expect a similar number of growth throughout the next couple of years if not more,” says COO Iyad Kamal. Increased online shopping helped to lift international express revenues by 18% in the fourth quarter from a year-earlier period. Domestic express revenues also rose 26% in the fourth quarter from a year-earlier period.

Previous Article Next Article



InFlavour to showcase diversity of KSA’s F&B sector

Global heavyweights from around the world are confirming their participation at InFlavour, 

Continue Reading

September 6, 2023 | By RetailME Bureau

Coffee Planet has unveiled a new brand identity to reinforce its position 

Continue Reading

August 7, 2023 | By Anurima Das
Food positive

The expansion of the organic food and grocery market in the UAE 

Continue Reading

July 26, 2023 | By Anurima Das
Union Coop reaffirms commitment to create an inclusive retail environment

Dubai-based consumer cooperative brand Union Coop has signed a memorandum of understanding 

Continue Reading

July 24, 2023 | By RetailME Bureau
GMG opens Monoprix in Nakheel Mall

UAE-based diversified business GMG’s Everyday Goods – Retail division has announced the 

Continue Reading

July 19, 2023 | By RetailME Bureau
What’s special about Dubai’s newly opened fruit & vegetable market?

Located in Al Aweer and spanning 66,000 square metres the recently opened 

Continue Reading

July 18, 2023 | By RetailME Bureau
Agthia Group launches $54-mn corporate venture capital fund

Abu Dhabi-based diversified F&B company Agthia Group has launched a $54 million 

Continue Reading

July 13, 2023 | By Rupkatha B
Carrefour UAE plans to recruit 2,500 Emiratis by 2026

Grocery retail major Carrefour, owned and operated by Majid Al Futtaim in 

Continue Reading

July 6, 2023 | By RetailME Bureau
GMG opens first monop store in Dubai

UAE-based diversified business GMG has opened the first monop convenience store at 

Continue Reading

June 20, 2023 | By RetailME Bureau
Carrefour strengthens Emiratisation commitment

Carrefour, which is owned and operated by Majid Al Futtaim Retail in 

Continue Reading

June 6, 2023 | By RetailME Bureau
Al Maya SMKTS diversifies product range

UAE-based supermarket chain Al Maya SMKTS, part of Al Maya Group, continues 

Continue Reading

June 6, 2023 | By RetailME Bureau

Download Images RetailME Magazine