However, the pandemic continued to impact profitability for the company, driving a 13% increase in operating costs for the year. For parcels and express, higher transport costs and lower profitability in Asia drove a 5 percentage point drop in EBIT margin, despite volumes and revenue across all regions growing 10% and 5% respectively.
Improved performance for logistics and freight services was primarily driven by a recovery in oil and gas production, rising prices and improving capacity across networks. Road freight volumes handled by Aramex more than doubled in 2021. In the medium term, the company aims to increase the share of revenue generated by freight forwarding services from 30% to 50%. For more details download the latest IPC Carrier Intelligence Report for Aramex.