Acquisitions drive Aramex profits

DUBAI — Aramex, the transportation solutions provider, yesterday announced that second-quarter revenues climbed 73 per cent to Dh361,430 million, as against Dh208,731 million for the equivalent period the previous year.

By A Staff Reporter

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Published: Mon 31 Jul 2006, 11:11 AM

Last updated: Sat 4 Apr 2015, 1:12 PM

The effect of the strong results of the second quarter pushed total revenues for 2006’s first half by 52 per cent to Dh600,117 million against Dh 394,949 million for the same period in 2005. Net profits for 2006’s second quarter increased 35 per cent to Dh24,643 million, from Dh18,268 million for the equivalent 2005 period. That led Aramex’s half-year net profit forward 38 per cent, to Dh45,782 million from Dh33,226 million. Total operational income for 2006’s first half rose 34 per cent to Dh52,679 million, from Dh39,325 million for the equivalent period the previous year.

Fadi Ghandour, CEO of Aramex, said: “These are excellent financial results. The figures demonstrate the value of the ambitious expansion and acquisition strategy we put in place last year and its ability to contribute to the company’s bottom line.”

“The results are a clear indication of our success in integrating our newly acquired companies into the Aramex global network and culture built on the twin pillars of innovation and growth.”

“The new acquisitions have clearly boosted Aramex’s financial performance while diversifying the company’s revenue streams. Twoway-Vanguard, a logistics and freight service provider with a strong network and client base across the UK, Ireland and the Netherlands, was acquired during Q2 and has contributed positively to these results.”

“We are confident that the next stage of that strategy will lead to further growth and enhanced financial performance as Aramex continues global expansion through acquisitions,” added Ghandour.

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