Aramex posts record quarterly revenue despite Gulf disruption
Dubai-based courier Aramex returned to profit with its highest quarterly revenue on record, even as the Iran war and Strait of Hormuz disruption weighed on regional trade.
Aramex, the Dubai-based courier and logistics company, reported its highest quarterly revenue in its history in the second quarter of 2026, with revenue climbing 22% to AED1.8 billion, according to AGBI. The company returned to profit in the period, a notable result given that the wider Gulf logistics environment has been strained by the Iran war and the resulting disruption to shipping through the Strait of Hormuz. Separately, industry data cited by AGBI shows Gulf export volumes fell by more than half in April year on year because of Hormuz-related trade disruption, with liquefied natural gas and Japan-bound exports hit hardest.
The contrast is instructive for luxury and logistics-adjacent businesses operating in the region. While bulk commodity and energy trade routes have suffered acutely from the Strait of Hormuz situation, express and parcel logistics operators like Aramex appear to have found ways to grow through it, likely reflecting resilient e-commerce demand and diversified route networks less dependent on the strait itself. This matters for luxury brands and retailers reliant on last-mile delivery and cross-border fulfilment in the Gulf, a region increasingly important to luxury retail expansion.
The result also lands alongside a reported agreement between Iran and Oman on shipping route coordinates through Hormuz, which pushed oil prices lower this week. If that agreement holds and eases broader trade friction, logistics operators such as Aramex and DP World, which is separately expanding UK warehouse capacity by more than two million square feet after taking over sites from GXO Logistics, could see further tailwinds. Watch whether the Hormuz arrangement reduces insurance and freight costs enough to benefit margin-sensitive luxury supply chains moving goods through the Gulf corridor.
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