Aramex, the Middle East-based express and freight group, has announced higher profits and revenuesfor the third quarter ending September 30, 2007, driven by good freight results.
Aramex said its Q3 revenues rose 25% to AED 451.7 million. Revenues for the first nine monthsof 2007 rose by 34% to AED 1,289 million.
Net profits for the third quarter rose by 14% to AED 26.0 million, while net profits for thefirst nine months of 2007 increased by 31% to AED 89.4 million.
“We had solid double digit growth in all our products, especially our freight and logisticsservices. The Gulf region continues to give us very solid results and we are witnessing consistentprofitability from our Two-Way acquisition in Europe,” commented Fadi Ghandour, founder & CEOof Aramex. “We continue to be optimistic about our full year results coming out on target,” headded.
In addition to significant growth in freight and logistics, the company also achieved strongresults from Infofort, its document management business.
Meanwhile, Aramex has signed to occupy new office premises in Harbour Towers, part of the newBahrain Financial Harbour district. It will use the property for its new UK visa applicationcentre.
