ARAMEX reports 24 percent increase in first-half revenues

Revenues increased to US$88.7 million reflecting a growth of 24 percent over 2003 revenues of US$71.7 million for the same period. Net income reached US$5.3 million, up 18 percent from US$4.5 million for the same period in 2003. Gross profit was up 16 percent.

"ARAMEX continues to experience solid growth from its status as the region's most dynamic provider of express delivery, freight forwarding and logistics solutions," said Fadi Ghandour, ARAMEX President and Chief Executive Officer. "We have ambitious plans for further investment and growth in our chosen markets and will continue to maximize the potential powered by our culture of customer focus and innovation."

"The Middle East and Indian subcontinent are experiencing exceptional economic development in spite of the many challenges facing business in the region. ARAMEX plays an integral role in the success of our customers' businesses and our constant drive towards partnership and integration with them are paying major dividends," Mr. Ghandour added.

ARAMEX, which employs more than 3,000 people in the region and around the world, operates an international network that includes strategic alliances covering five continents.

"Our mission is to be the total transportation solutions company of choice for the Arab world and the Indian subcontinent. Our roots in the region allow us to provide services to our customers that meet their very specific requirements and business objectives," he said.

Mr. Ghandour said the half-yearly results reflected the continued excellent work of the ARAMEX employees, many of whom are shareholders in the company.