Aramex, the Middle East-based express and logistics company, today announced that 2006 net profitsclimbed 28% to AED 95.2 million (EUR 20 million) from AED 74.4 million for the same period last
year. Revenues climbed as well by 59% to AED 1.36 billion (EUR 285.7 million), from AED 854 millionthe same period in 2005.In a preliminary statement of its 2006 full-year results, released to the Dubai FinancialMarket, Aramex revealed business was buoyant throughout the year but climbed significantly in thefourth quarter. Net profits for the fourth quarter rose by 14% to AED 27 million, from AED 24million for the same period last year. Revenues for the period were even further ahead at AED 402million, 68% up on the AED 239 million for the same period in 2005.
Fadi Ghandour, Chief Executive Officer and President, said: “The strong financial performancewe have seen in 2006 reflects the tremendous progress the company has made. The figures are verypositive and the upturn in revenues confirms the success of our strategy of seeking expansionthrough acquisitions and organic growth.
“Aramex has never been in better shape. The business is well positioned to capitalize on thetrends that are reshaping the regional and global industry. Our strength in the regional expressmarket, the innovations we have introduced in our service offering, the responsiveness of ourpeople and their commitment to the Aramex culture of putting service first have added enormousvalue for our stakeholders.”
The results confirm that Aramex continues to build on the solid base it has established inprevious years. Mr. Ghandour said: “We will continue to develop new services, look at new businesslines and extend the scope of our operations.”
