Business | Shipping
Aramex's net profit up 21% at Dh36.2m
Aramex, a transportation and logistics solution company, yesterday reported 24 per cent growth in revenue to Dh494.4 million for the first quarter of 2008, up from Dh399.6 million in the same period last year.
- Staff Report
- Published: 00:17 April 23, 2008
Dubai: Aramex, a transportation and logistics solution company, yesterday reported 24 per cent growth in revenue to Dh494.4 million for the first quarter of 2008, up from Dh399.6 million in the same period last year.
Meanwhile, net profit for the first quarter rose 21 per cent to Dh36.2 million, from Dh29.9 million for the same period last year, a company said in a statement.
Despite challenges in the market, Aramex continued to reap the benefits of a successful expansion strategy, which helped boost productivity and sales across key product and service lines, as reflected in the company's healthy margins, it said.
"Aramex's first quarter results are a strong indication that we are on the right track," said Fadi Ghandour, Aramex found-er and chief executive.
"Our ability to leverage our infrastructure and supply chain capabilities across the region is paying off and these results are in-line with our expectations for the year ahead," he said.
Along with strong profitability for its freight and express product, the company saw impressive growth of its logistics and records management services, which have witnessed 39 per cent and 57 per cent growth, respectively.
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