Aramex -the global logistics and transportation solutions provider- announced its financial results for the first quarter of 2012, reflecting very strong results with healthy growth in revenues and net profits.
The company’s net profits for the first quarter of 2012 rose to AED 61 million, up from AED 50 million in the corresponding period of 2011, representing an increase of 22%. In the first quarter of 2012, Aramex ‘s revenues rose to AED 746 million, up 25% compared to AED 595 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 ‘s 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”.
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, as zawya stated.
Ghandour stated that the company remains focused on its strategy of expanding into emerging growth markets in Africa, South East Asia and Central Asia, and he added, “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”.