Aramex second quarter net profit up 10 per cent

ARAMEX has reported second-quarter, for the three months ending 30 June, net profits of AED55 million (US$14.9 million), a 10 per cent increase over the corresponding period of 2009. Net profits for the first half of 2010 stood at AED102 million ($27.7 million), also a growth of 10 per cent over the first six months of 2009.

The results mean the second consecutive quarter of double-digit growth for the company revenues, reaching AED557 million ($151.6 million), a rise of 15 per cent.

Aramex says the results were mainly due to an increase of business across the company’s operations and strong growth in freight services in Europe and India.

“These solid figures meet our expectations for this quarter, and are very much in line with historically strong performances across all levels of operations,” said Fadi Ghandour, Aramex chief executive officer. “Supported by our strong cash position, we remain focused on investing and expanding in emerging markets such as those in Africa, Southeast Asia and CIS countries.”

Share this story

Related Topics

Latest news

DSV ups airfreight capacity across network with new charter services

By Rachelle Harry

DSV has launched three new air cargo charter routes, which connect five continents, to meet increased demand for air freight…

Read More

Share this story

Network Airline Services renews GSA contract with RwandAir

Network Airline Services (NAS) has renewed its GSA contract with RwandAir in Germany and France, extending the partnership between the…

Read More

Share this story

CEVA relocates Thailand head office to Bangkok

CEVA Logistics has relocated its Thailand head office to Bangkok, as it continues to expand in Asia. The announcement follows…

Read More

Share this story