Aramex posts profit in Q3

More acquisitions in South Africa in the offing

African markets Aramex Berco Express expansion In-Time Couriers Kenya Middle East markets Oneworld Courier quarterly profits South Africa

Dubai-based logistics firm Aramex has posted a 11 per cent increase in quarterly profits. For the period ended September 30, Aramex reported third-quarter net profit of $14.5 million, up from $13 million a year ago. Revenues rose 17 per cent to $207.73 million from $176.96 million in the year-over-year period. The company has been on an expansion spree in the Middle East and African markets and took over South Africa’s Berco Express and Kenya’s Oneworld Courier and In-Time Couriers last year. It is looking for more acquisitions in Southern Africa in 2013.