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Aramex sees Q2 profits rise 14%

Dubai-based Aramex has reported a 14% rise in quarterly profits, buoyed by its Gulf Arab region operations which offset weakness in Egypt where an uncertain political outlook has hampered its business, Reuters has reported. Net income rose to Dhs64.4m ($17.53m) from Dhs56.5m a year ago, while revenues climbed 21% to Dhs782m from Dhs648m in the prior-year period, Aramex said. In its key Egyptian market, Aramex saw "a significant slowdown" in operations in the wake of June presidential elections.