Aramex grows revenue and profits

Saudi-owned courier and logistics company says performance was strong in all parts of the Gulf in the first nine months.

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By  David Ingham Published  November 28, 2002

Aramex posted revenue of US $34.8 million for the third quarter ending September 30, up from $29 million for the same period a year ago. The Saudi-owned courier and logistics company increased net income to $1.5 million, compared to $1 million a year ago.

“We are certainly very excited with these results,” said Fadi Ghandour, president and CEO of Aramex. “Our revenue and net income growth are a continuation of the trend we have set over the last few years. This growth is a result of our continued strong performance in our operations in the Gulf, Levant, Egypt and India. All our operations in the region performed extremely well over the last nine months.”

For the first nine months of the year, the company has posted revenue of US $98 million, compared to US $85.4 million for 2001. Net income has grown to $4 million, compared to $3.2 million for the first nine months of 2001.

“Our one stop shop, total transportation solutions offering continues to differentiate us from our competitors in the market and is clearly giving us double digit growth in every product we are offering,” says Ghandour. “Our staff have done a great job and I am extremely proud of every single one of them for our excellent performance.”

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