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Dubai's Aramex expects single-digit profit, revenue growth in 2017

Published 30/01/2017, 07:25 pm
© Reuters.  Dubai's Aramex expects single-digit profit, revenue growth in 2017
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DUBAI, Jan 30 (Reuters) - Dubai-based courier Aramex ARMX.DU expects single-digit profit and revenue growth in 2017, chief financial officer Bashar Obeid told a news conference on Monday.

Aramex will continue to look out for acquisitions in 2017 and is targeting opportunities in Asia, particularly within "last mile" services, chief executive Hussein Hachem said. "Last mile" describes delivery of people and goods from a transport hub to a final destination at home.

Earlier on Monday, the company reported a 129 percent jump in fourth-quarter net profit. Full-year profit rose 37 percent to 426.6 million dirhams ($116.2 million) while revenue climbed 16 percent to 4.34 billion dirhams.

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