ARAMEX reports record 22 per cent rise in 2003

Having recorded its highest ever growth during the financial year ending December 31, 2003 the company revenues soared to US$166.8 million, reflecting a growth of 22 per cent over 2002 revenues of US$136.5 million. Net income rose to US$10 million, up 151 per cent from US$4 million in 2002.

"Increased revenues and profitability are a testament to our company's success in implementing key strategic initiatives in promoting growth throughout our key international markets. Our winning formula comprises our culture of innovation, a strong customer focus and a great team of people, which has helped us overcome a challenging environment," said Fadi Ghandour, President and CEO of ARAMEX.

The Annual ARAMEX Leaders Conference held last week at the Dead Sea in Jordan gathered more than 265 leaders of ARAMEX from 36 countries in five continents to celebrate the phenomenal achievements of the company in 2003. With the theme "Global brand, global action", ARAMEX's two-day conference focused on the success of the brand and its significant expansion of network offices throughout the world. The transportation and logistics service provider's investment in technology and the integration of technology-based systems in extending worldwide reach and enhancing customer service were also key discussion points of the conference.

In 2003, ARAMEX strengthened its commanding presence throughout the Middle East, recording considerable growth in several key markets. Furthermore, as part of the company's plans to forge into new and promising market segments worldwide, ARAMEX consolidated its presence in Asia, in addition to South Africa, and the Czech Republic to reinforce its global coverage.

"We consolidated our presence throughout the world, not only through new network offices, but also through strategic appointment of service partners. This clearly demonstrates the strength of the brand and its ability to achieve growth year-on-year. An integral part of ARAMEX's growth strategy is its global perspective. We are driving the company's growth in a number of key international markets and have ambitious expansion plans in the pipeline," added Ghandour.

A special gala dinner was held as part of ARAMEX's Annual Leaders Conference in recognition of distinguished leaders and best performing stations. The "Station of the Year Award" went to Egypt for its outstanding results in 2003 and continued growth year on year and was presented by Aref Naqvi, Chief Executive Officer of Abraaj Capital, ARAMEX's holding company, and Fadi Ghandour.