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.”

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