Aramex, the Dubai-based express and freight transport group, grew strongly in the first quarterof 2006 as it continued its international growth and expansion strategy. The stock exchange-listed
company increased its first-quarter revenues by 28% to AED 239 million (€52.3 million) while itsnet profits rose by 41% to AED 21 million.Commenting on the results, CEO Fadi Ghandour, said: “We are extremely happy with these results,revenues and net income are right on target. This is a result of the excellent growth we aregenerating in our core markets in addition to the sound financial performance and results of thecompanies we have acquired in 2005 and early 2006.”
Pointing out the success of the acquisition strategy the company is implementing, Ghandourexplained: “This is a solid confirmation that our expansion strategy continues to deliver theresults we have planned for. 2006 will continue to be an expansion year for us and we are veryexcited about our future possibilities in this regard.”
Aramex, the operating name of Arab International Logistics Co., sees itself as the market leaderin the Middle East, offering express delivery, freight forwarding and logistics services. Itemploys over 4,800 people in 240 offices and has a number of international partnerships to providea worldwide presence.
