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Tejari profits double in 2006

Online marketplace Tejari posted record results last year, with sales up 30% and net profits up 110%.

Online marketplace Tejari posted record results last year, with sales up 30% and net profits up 110%.

Over US$1.3 billion worth of business went through online marketplace Tejari during 2006, marking a 33% rise in trading volumes from the year before. The results reflect increased trading activity by both suppliers and purchasers, and an expanding base of trading partners for Tejari Marketplace, as well as improved consulting revenue.

“Tejari’s performance during 2006 demonstrates both the strength of our marketplace services and the ongoing interest in e-commerce among public and private sector organisations in the Middle East,” said Omar Hijazi, CEO of Tejari.

Highlights of last year included the launch of operations in four countries and the introduction of four services targeting various business communities, Hijazi said.

“Our focus now is on making Tejari into a global brand and extending our services to emerging markets worldwide,” he added.

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