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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Aramex Q4 net profit doubles

Aramex delivered a notable 2 percent YoY growth in Gross Profit for Q4 2023. (WAM)
  • Aramex said the revenue growth in International Express was offset by the decline in revenues from other products.
  • The company posted a 2 percent YoY growth in gross profit for Q4 2023, reaching AED 389 million and remained stable for the full year.

Dubai, UAE: Aramex, a global provider of logistics and transportation solutions, reported a marginal 1 percent YoY decline in Q4 2023 revenue to AED 1.52 billion.

Full-year revenue was AED 5.69 billion, a decline of 4 percent YoY. When excluding the impact of currency translation, full year revenue decline was 1 percent compared to reported decline of 4 percent, Aramex said in a statement.

The statement said the revenue growth in International Express was offset by the decline in revenues from other products.

Freight forwarding was impacted by the decline in global rates in the freight-forwarding industry, while the Domestic Express and logistics businesses reported marginal decline in revenues, impacted by currency translation.

Excluding the impact of currency translation, both products reported growth of 2 percent in revenue for the full year 2023.

The company posted a 2 percent YoY growth in gross profit for Q4 2023, reaching AED 389 million and remained stable for the full year. Net Profit for Q4 2023 more than doubled to AED 77 million compared to the same period last year, driven by the growth in EBITDA.