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ARAMEX PJSC — Earnings Release 2011
Apr 26, 2011
66347_rns_2011-04-26_2b4e7390-8eb9-4634-ae0b-c3d78282dd4b.pdf
Earnings Release
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Press Release
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Aramex reports increased revenues despite instability
in number of key regional markets
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Quarterly revenues reach AED 595 million, up 12%
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First quarter 2011 net profit of AED 49.8 million, up 5%
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Strong performance in core GCC markets
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Recent acquisitions in Asia and Africa contribute to positive
performance
Dubai, UAE; April 26, 2011: Aramex (DFM: ARMX), the global logistics and transportation solutions provider, today announced its financial results for the three months ending March 31, 2011, reflecting a healthy increase in revenues and net profits despite unrest in a number of its core markets in the Middle East and North Africa (MENA) region.
Aramex’s revenues for the first quarter of 2011 rose to AED 595 million, up from AED 530 million in the corresponding period of 2010, representing an increase of 12%. In the same period, the company’s net profits rose to AED 49.8 million, up from AED 47.5 million in the corresponding period of 2010, representing an increase of 5%.
“We are very pleased with our financials for the first quarter of this year, which were driven by strong performances in the Gulf Cooperation Council countries, where revenues have experienced a substantial increase since the beginning of 2011,” said Fadi Ghandour, Aramex founder and CEO. “All our product offerings were in positive territory; I am especially encouraged by the double digit growth in our international express business, which is the biggest contributor to our operating income.”
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In addition, the continued growth of Aramex’s business in European Markets, and the recent acquisitions in Africa and Asia contributed to the company’s positive overall performance.
“As we continue to expand our presence around the world, capturing growth opportunities in emerging markets in Africa and Southeast Asia, Aramex’s position here in the Middle East remains consistently strong,” said Ghandour, adding that Aramex witnessed challenging conditions in the first quarter of this year in MENA markets, such as Egypt and Bahrain, and the company has also voluntarily suspended its operations in Libya.
“Amidst regional political instability, higher fuel prices and global inflationary pressure, our outlook for the rest of this year remains cautious,” he said. “However, our healthy performance in the first quarter is a clear indicator that Aramex continues to successfully adapt to rapidly evolving market conditions.”
Ghandour added that Aramex remains committed to its long-term expansion strategy, with further acquisitions in East Africa and Central Asia.
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About Aramex:
Aramex is a leading provider of comprehensive logistics and transportation solutions. Established in 1982 as an express operator, the company rapidly evolved into a global brand recognized for its customized services and innovative multi-product offering. Traded on the NASDAQ from 1997 to 2002, Aramex today is a publicly traded company on the Dubai Financial Market (DFM: ARMX), employing more than 8,600 people in 310 locations, and leads a strong alliance network providing global presence, and bringing together 40 independent express companies from around the world. The range of services offered by Aramex includes integrated logistics solutions, international and domestic express delivery, freight forwarding, secure records and information management solutions, and e-services, including e-business solutions and Shop and Ship.
For more information, please visit us at www.aramex.com. Follow us on Twitter: @aramex.
For further information, please contact:
Ashraf Zeitoon Aramex International Dubai, United Arab Emirates Tel: +971 600 544 000 E-mail: [email protected]
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Liam Turner / Nicholas Nesson ASDA'A Burson-Marsteller Dubai, UAE Tel: +971 4 3344550 Fax: +971 4 3356080 E-mail: [email protected] / [email protected]
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