Aramex's Q3 net profit fell nearly 5 percent
(MENAFN)Company Aramex fell nearly 5 percent, according to announcement of 7 percent rise in the third quarter of net profit that failed to reach expectations.
The Dubai Financial Market (DFM ), reported that the company made USD 20.3million net profit, compared to USD 18.9 million in the same period last year.
But shares closed down 4.38 percent to USD 832.9 million following the announcement. Reuters reported that two analysts had forecasted third quarter profit would be between USD 21.6million and USD 24million.
Chief Executive Hussain Hachem said "low oil prices and weak global currencies had dented the third quarter for Aramex".
Aramex income for the period was USD 255.05 million, up 2 percent compared to USD 250.69million last year.
The Dubai Financial Market (DFM ), reported that the company made USD 20.3million net profit, compared to USD 18.9 million in the same period last year.
But shares closed down 4.38 percent to USD 832.9 million following the announcement. Reuters reported that two analysts had forecasted third quarter profit would be between USD 21.6million and USD 24million.
Chief Executive Hussain Hachem said "low oil prices and weak global currencies had dented the third quarter for Aramex".
Aramex income for the period was USD 255.05 million, up 2 percent compared to USD 250.69million last year.
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