In addition, ARAMEX's half yearly net income rose to US$4.5 million, an 83 per cent increase compared to 2002's first half yearly figure of US$2.4 million.
ARAMEX also disclosed its second-quarter financial results, which revealed 24 per cent growth in the company's total revenues, now at US$42.5 million as compared to US$34.3 million for last year's second quarter. The new figures also include net income growth to US$2.9 million, a record 86 per cent above second quarter 2002.
Commenting on the latest financial results and the highest growth ever in any quarter in the company's history, Fadi Ghandour, President and CEO of ARAMEX, said: "These are excellent results, and we are very pleased with them. They are a testament to the strength of our operations and the efficiency of our network in managing costs."
"Our growth can be attributed to our diverse products and services and relentless emphasis on serving our customers in the best way possible. With innovative transportation solutions, we are in a good position to continue this trend of achieving positive growth year on year," added Ghandour.
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ARAMEX announces record half-yearly and second-quarter financial results for 2003
- United Arab Emirates: Tuesday, September 30 - 2003 at 16:21
- PRESS RELEASE
ARAMEX International, the leading provider of total transportation solutions in the Middle East and Indian Subcontinent, has announced half-yearly revenues of US$80.1 million for the six months ending June 30, 2003, reflecting a growth of approximately 27 per cent over the same period last year.
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ARAMEX International (http//www.aramex.com) is the leading provider of total transportation solutions in the MENA region and Indian Subcontinent offering express delivery, freight forwarding, and logistics solutions. Founded 21 years ago, ARAMEX employs over 2,800 employees in 134 offices spanning five continents and has a strong global alliance network offering worldwide presence. ARAMEX, now a privately owned company, was the first in the Arab World to be listed on the NASDAQ Stock Exchange.For further information, please contact:
Jehad Saleh
ASDA'A Public Relations
Dubai, UAE
Tel: +9714 3344550,
Fax: +9714 3344556
Posted by Anne-Birte Stensgaard, Senior News EditorTuesday, September 30 - 2003 at 16:21 UAE local time (GMT+4)
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