Dubai, UAE; October 23rd, 2012: Aramex (DFM: ARMX), the global logistics and transportation solutions provider, today announced its financial results for the third quarter of 2012, indicating continued strong performance with healthy growth in revenues and net profits.
The company’s revenues in the third quarter of 2012 increased to AED 763 million, up 17% compared to AED 650 million in the corresponding period of 2011, and the net profits rose to AED 53.1 million, up from AED 48 million in the third quarter of 2011, representing an increase of 11%.
“We remain pleased with our financial performance for this quarter and for the whole year so far. One of our key growth drivers, e-commerce continues to grow substantially, and our business in core markets remains robust, as the economies of the Gulf Cooperation Council (GCC) countries continue to perform strongly and our South African operation is doing extremely well,” said Fadi Ghandour, Aramex’s Founder and CEO.
Ghandour added that, “Our challenges lie more with our newly established greenfield operations in Africa while our Asia operations including India are showing promising results.”
Aramex’s operations in South Africa, following the acquisition in December 2011 of Berco Express, one of South Africa’s leading logistics and transportation companies, continue to demonstrate promising growth. Following the completion of its full integration into the global Aramex network and connection with the company’s global trade hubs, South Africa is serving as a spring board platform for expansion into the Southern Africa region, with announcement of new acquisitions expected in 2013.
Ghandour concluded by stating that he remains confident of the direction set for the company and its performance for the rest of the year.