Arab International Logistics (ARAMEX) has announced its first financial results since itsfoundation in early 2005 and acquisition of courier company ARAMEX in June this year. The
Dubai-based parent group had revenues of AED 219.2 for the quarter ending September 2005 and netincome of AED 27.6 for the same period.ARAMEX, announcing its results for the nine months ending on September 30, 2005, showed a jumpof 64 per cent in net profit to AED 51.6 million. Its revenues increased 23 per cent to AED 614.1million. In the third quarter, the courier firm increased revenues by 26 per cent to AED 219.2million and net income rose by 50 per cent to AED 18.4.
Commenting on the results, AIL and ARAMEX CEO Fadi Ghandour said: “We are definitely pleasedwith these results, they come true to our expectations and according to our plans for the companyas we continue to explore opportunities to expand our operations following the same strategy wehave asserted earlier on.”
Under its regional and international expansion strategy, the AIL/ARAMEX group has recentlyacquired companies in the Middle East and a UK-based air freight forwarder. It is also in talkswith the Lebanese post office over a cooperation deal.
