ARAMEX 2006 second quarter revenues soar 73 per cent

Published July 30th, 2006 - 09:43 GMT

ARAMEX (DFM:ARMX), the total transportation solutions provider, today announced Second-quarter revenues climbed an unprecedented 73 per cent to AED 361,430 million, as against AED 208,731 million for the equivalent period the previous year.

The effect of the strong results of the second quarter pushed total revenues for 2006’s first half 52% to AED 600,117 million against AED 394,949 million for the same period in 2005.

Net profits for 2006’s second quarter increased 35 per cent to AED 24,643 million, from AED 18,268 million for the equivalent 2005 period. That led ARAMEX’s half-year net profit forward 38 per cent, to AED 45,782 million from AED 33,226 million. Total operational income for 2006’s first half rose 34 per cent to AED 52,679 million, from AED 39,325 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 the second quarter 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 its global expansion through acquisitions” added Ghandour.

ARAMEX (PJSC) listed on the Dubai Financial Market (DFM: ARMX), is the leading provider of total transportation solutions, offering express delivery, freight forwarding and logistics solutions. Founded 24 years ago, ARAMEX employs over 4800 people in 240 offices spanning five continents and has a strong global alliance network offering worldwide presence.


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