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Middle East Regional Economic News
 

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2nd Middle East Waste and Environmental

Management Congress - Dead Sea
17-19 February, 2009

 

أخبار الشرق الأوسط الاقتصادية - Middle East Regional Economic News - 共發現



 

Aramex Third Quarter Net Profits Climb 31%

Dubai, United Arab Emirates – (October 2008) Aramex (DFM: ARMX) today reported strong financial results for the third quarter ending September 30, 2008, with net profits jumping 31% to AED 33.9 million, from AED 26 million for the same period in 2007, and  revenues registering a 21% increase, from AED 451.7 million to  AED 545.7 million.

Revenues for the first nine months of 2008 climbed by 23% to AED 1,579.5 million, from AED 1,289 million over the same period in 2007, while  net profits rose by 21% to AED 108.5 million, from AED 89.4 million. All of Aramex’s key products have recorded double-digit growth.

“Given the current market conditions, we are very pleased with these results. Obviously, we will continue to monitor the global economic situation very carefully; however, Aramex has a very healthy balance sheet with little debt and no investments outside our core business, so we remain confident that we are on track to meet our targets for the fourth quarter of this year, " said Fadi Ghandour, founder and CEO of Aramex.

Ghandour added that Aramex is also "quite satisfied with the performance of our European operations and will be focusing more of our attention on expansion in Asia, specifically opportunities for acquisitions in China. The fact that we have taken our time is paying off now, in view of the turmoil in the financial market. As the dust settles, I am sure we are going to find the right company with the right business model at the right value."

About Aramex

Built on a 26 year history of innovation, Aramex (DFM: ARMX) facilitates responsible global commerce by delivering customized transport and logistics solutions around the world through sustainable business practices.

For further information, please contact Ashraf Al Shakaa, Public and Investor Relations Manager (GCC), Aramex (PJSC), Tel:+9714 808 9012, Mobile:+971 50 599 0924 Email: Ashraf.shakaa@aramex.com


 





 

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