Aramex, the Dubai-based express and freight transport group, increased second-quarter revenuesby an unprecedented 73% to AED 361 million (€76.9 million), as against AED 209 million for the
equivalent period the previous year.The effect of the strong results of the second quarter pushed total revenues for 2006’s firsthalf 52% to AED 600 million against AED 395 million for the same period in 2005.
Net profits for 2006’s second quarter increased 35% to AED 24.6 million, from AED 18.3 millionfor the equivalent 2005 period. That led Aramex’s half-year net profit forward 38%, to AED 45.8million from AED 33.2 million. Total operational income for 2006’s first half rose 34% to AED 52.7million, from AED 39.3 million for the equivalent period the previous year.
Fadi Ghandour, CEO of Aramex, said: “These are excellent financial results. The figuresdemonstrate the value of the ambitious expansion and acquisition strategy we put in place last yearand its ability to contribute to the company’s bottom line. The results are a clear indication ofour success in integrating our newly acquired companies into the Aramex global network and culturebuilt on the twin pillars of innovation and growth.
“The new acquisitions have clearly boosted Aramex’s financial performance while diversifying thecompany’s revenue streams. Twoway-Vanguard, a logistics and freight service provider with a strongnetwork and client base across the UK, Ireland and the Netherlands, was acquired during the secondquarter and has contributed positively to these results.
“We are confident that the next stage of that strategy will lead to further growth and enhancedfinancial performance as Aramex continues its global expansion through acquisitions,” addedGhandour.
