Aramex Q2 net profit up 10%
Aramex has reported net profits of AED 55m a 10% increase over the AED 50m posted in the corresponding period of 2009. Net profits for the first half of 2010 stood at AED 102m, a growth of 10% over the AED 93m achieved in the first six months of 2009.
For the second consecutive quarter, company revenues witnessed double-digit growth, reaching AED 557m, a rise of 15 % from the AED 485m registered in the same period of 2009.
These results were mainly due to an increase of business across the company’s operations and strong growth in freight services in Europe and India.
Building on the solid performance achieved in the first quarter of 2010, the company also achieved a high net profit margin of 10% in the second quarter as it continued to focus on operational cost efficiency.
“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 founder and CEO. “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.”
Aramex also continued, in the second quarter of 2010, to deliver on its commitments to the environment and communities, expanding its partnership agreement with UNICEF in the GCC. Among other initiatives and activities, Aramex released its second sustainability report in April 2010, outlining the company’s progress and highlighting steps to accelerate the adoption of sustainability practices.
