Home / Knowledge / News / Aramex delivers strong Q1 growth
Aramex delivers strong Q1 growth
24
Apr '08
Aramex one of the world's leading transportation solutions providers, announced its financial results for the first quarter of 2008, with yet another set of results highlighting the company's strong financial performance.

Revenues for the period ending March 31, 2008 rose 24% to AED 494.4 million, surging from AED 399.6 million posted in 2007. Meanwhile, net profits for the first quarter of 2008 rose by 21% to AED 36.2 million, from AED 29.9 million for the same period last year.

Despite challenges in the market, Aramex continues to reap the benefits of a successful expansion strategy that has helped boost productivity and sales across key product and service lines, as reflected in the company's healthy margins.

“Aramex's first quarter results are a strong indication that we are on the right track,” said Fadi Ghandour, Founder and CEO of Aramex.

“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.”

Along with strong profitability for its freight and express product, the company has been pleased with the impressive growth of its logistics and records management services, which have witnessed 39% and 57% growth, respectively.

“We are still focusing on acquisitions and opportunities in key global markets such as Asia; however, we remain focused on our markets in the MENA region where strong economic growth continues,” added Ghandour.

Across Aramex's core Middle East market, performance in the Levant has improved notably, while rapid growth in the Kingdom of Saudi Arabia and excellent results in the UAE have made an unequivocal impact on the company's profitability.

Aramex

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 29th Apr 2017

EU rules needed to curb textile worker exploitation: MEPs

European Union (EU) rules are needed to oblige textile and clothing...

Apparel/Garments | On 29th Apr 2017

US retail operating growth to be 1.5-2.5% in 2017: Moody's

The forecast for operating income growth in the US over the next 12...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X