UAE logistics firm Aramex continues profit growth in Q1

Aramex CEO Fadi Ghandour

Aramex has achieved a healthy growth in revenues and net profits for the first quarter of 2012, the company announced today.

The company’s net profits for the first quarter of 2012 rose to US$16.6 million, up from $13.6 million in the corresponding period of 2011, representing an increase of 22 per cent. In the first quarter of 2012, Aramex’s revenues rose to $203 million, up 25% as compared to $162 million in the first quarter of 2011.

“Following a challenging year in 2011, we delivered strong results in the first quarter with revenue and net profit growth across all key markets and all services,” said Fadi Ghandour, Aramex founder and CEO.

“These results were mainly due to the robust economic growth in the Gulf Cooperation Council (GCC) countries, and the significant contribution of our recent acquisitions in 2011, in particular Berco Express in South Africa”.

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Revenues from the company's emerging growth markets increased significantly over the past three months, with healthy growth across all markets in freight, international and domestic express, which continues to be fueled by the growing demand in global and regional e-commerce.

In addition, the expansion of Aramex’s logistics business in key markets, driven by the significant upgrading of the company’s logistics infrastructure and launch of a number of new logistics facilities, contributed to the company’s positive overall performance. “We are starting to reap the fruits of the acquisitions we made in 2011. South Africa has been especially strong this quarter, which gives us confidence in continuing our expansion strategy going forward, and I am optimistic about our performance for the rest of the year.”