DUBAI: February 12, 2018. Logistics provider Aramex has reported a nine percent increase in 2017 revenues to AED4.72 billion and a 14 percent year-on-year rise in Q4 revenue to AED1.32 billion.

Net profit for the year rose two percent to AED435.4 million while Q4 profits rose 25 percent compared to the same period in 2016 to reach AED165 million.

Aramex CEO Bashar Obeid said: "Our strong results were mostly driven by the surge of cross-border e-commerce activities globally, which continue to fuel the growth of our international express business.

"While being excited about the growth potential of global e-commerce business, we have witnessed an exceptional growth of express volumes in Q4, which highlighted a need to boost investments in last-mile capacity solutions across all our key markets."

Aramex said its Q4 International Express business grew 22 percent to AED609 million while Domestic revenue rose 10 percent to AED272 million as a result of a a rise in e-commerce across most regions, particularly the GCC.

Freight forwarding operations rose 11 percent during the period to AED304 million, "due to the excellent rebound in Aramex's Oil and Gas business in the GCC" and growth in North Africa, the Levant, and Asia.

Commenting on the year ahead Obeid said: "We are very confident about the growth potential in 2018 amid the continuous boom in e-commerce activities globally, yet we have to remain cautious about the changing competitive environment that requires highest levels of efficiencies and operational effectiveness in meeting customers' expectations."

Expressing "delight" that Aramex's forwarding results picked up in Q4 as a result of increasing oil and gas revenue, Obeid said he was extremely positive about the growth signs and would be expanding investments in technology and human resources this year to "accelerate the growth of supply chain and freight forwarding across all our markets".