Aramex revenues up 18 percent in 2002
Aramex International, a provider of transportation solutions in the Middle East and Indian Subcontinent, recorded an 18 percent revenue increase from $116.5 million in 2001 to $137.6 million in 2002, stated a press release.
The company’s operating income also showed considerable growth, figures showing an approximate 28 percent increase from six million dollars in 2001 against $7.7 million in 2002. The company saw a rise of approximately 25 percent to $39.1 million in its fourth quarter results for 2002, versus $31.2 million, for the same period in 2001.
Operating income increased approximately 40 percent to two million dollars in the fourth quarter of 2002, versus $1.5 million for the same period the previous year.
Aramex was the first Arab based company from the Middle East to float on the NASDAQ, and returned to private ownership by Rasmala Buyout Fund LP at the beginning of 2002. The company offers express package delivery, freight forwarding, logistics and other transportation services to over 250 countries worldwide. — (menareport.com)
© 2003 Mena Report (www.menareport.com)