ARAMEX 2006 profits climb 28 per cent as revenues surge

Revenues climbed as well by 59% to AED 1.36 billion, from AED 854 million the same period in 2005.

In a preliminary statement of its 2006 full-year results, released to the Dubai Financial Market earlier today, the global express, freight and logistics innovator, revealed business was buoyant throughout the year but climbed significantly in the fourth quarter. Net profits for the fourth quarter rose by 14% to AED 27 million, from AED 24 million for the same period last year. Revenues for the period were even further ahead at AED 402 million, 68% up on the AED 239 million for the same period in 2005.

Fadi Ghandour, ARAMEX's Chief Executive Officer and President, said:

"The strong financial performance we have seen in 2006 reflects the tremendous progress the company has made. The figures are very positive and the upturn in revenues confirms the success of our strategy of seeking expansion through acquisitions and organic growth."

"ARAMEX has never been in better shape. The business is well positioned to capitalize on the trends that are reshaping the regional and global industry. Our strength in the regional express market, the innovations we have introduced in our service offering, the responsiveness of our people and their commitment to the ARAMEX culture of putting service first have added enormous value for our stakeholders."

The results confirm that ARAMEX continues to build on the solid base it has established in previous years. Mr. Ghandour said: "We will continue to develop new services, look at new business lines and extend the scope of our operations."