Aramex net profits up 28%

Leading total transportation solutions provider Aramex (DFM: ARMX) released its financial results for 2007, reflecting what is considered to be the company's best year yet. For the year ending December 31, 2007, Aramex revenue rose from AED 1,364 million to AED 1,784 million, increasing by 31% over 2006, while net profits rose by 28% over the same period, from AED 95.2 million to AED 121.6 million.

Net profits for the fourth quarter increased by 20% to AED 32.1 million, from AED 26.8 million for the corresponding period last year. Revenue for the period was further ahead at AED 495 million, 23% up on the AED 403 million for the corresponding period in 2006.

"We can confidently say that 2007 was Aramex's best year ever.

We grew in size, reach, capability and reputation. We did it in a thoughtful, measured and sustainable manner that will enable us to continue leveraging our strengths as we move boldly into 2008," said founder and CEO of Aramex, Fadi Ghandour.

Capitalising on current outsourcing trends across the region, Aramex has won major logistics contracts in 2007 by diversifying its offering through products and services that combine some of the most advanced technologies and innovative solutions in the market.

Key infrastructure investments across the Middle East have also enabled the company to grow its profitable logistics business, while strategic acquisitions in Singapore and Indonesia have extended the company's reach across lucrative emerging markets.

Aramex's aggressive global expansion under the direction of its regional CEOs has helped the company solidify its leadership and presence across Europe, North America, GCC, Africa, Asia and the Levant.