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
