Dubai-based courier Aramex reported a 36 per cent fall in fourth-quarter net profit on Wednesday.
The company made a net profit of Dh57.6 million in the three months to December 31, it said in a statement. This compares with a profit of Dh89.4m in the year-ago period.
SICO Bahrain forecast Aramex would make a quarterly net profit of Dh97.6m.
Annual profit for the firm was Dh311m, down from Dh318m in the year-ago period.
In October, Aramex said it had several acquisitions in the pipeline and was expecting to close deals valued in the range of $150 million in the next two quarters.
More to follow.
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