Aramex continues expansion into new markets

Expansion in emerging markets in 2010 help boost Jordan-based global logistics and transportation solutions provider, Aramex’s fourth quarter results with net profit for the quarter, ending 31 December 2010, increasing 11 per cent to Dhs55 million (US$15 million) on revenues of Dhs580 million, a 10 per cent increase on the fourth quarter of 2009. Full-year […]


Expansion in emerging markets in 2010 help boost Jordan-based global logistics and transportation solutions provider, Aramex’s fourth quarter results with net profit for the quarter, ending 31 December 2010, increasing 11 per cent to Dhs55 million (US$15 million) on revenues of Dhs580 million, a 10 per cent increase on the fourth quarter of 2009. Full-year net profits, at Dhs204 million, were also 11 per cent up on 2009. The company’s revenues increased 13 per cent on the previous year to reach Dhs2.21 billion. The fourth-quarter result was “solid” and in line with growth rates during the previous quarters, Ghandour said. “We recorded high net income margins, an increased operating profit and revenue growth in key services across all the markets we serve,” he added. During 2010 the company said it strengthened its presence in Turkey, Malaysia, Bangladesh and Vietnam through a series of strategic acquisitions and partnerships. Fadi Ghandour, founder and CEO, said that Aramex will continue pursuing expansion opportunities in Southeast Asia this year, and he expects to announce acquisitions in East Africa during the first quarter. “While we continue to identify expansion opportunities in emerging markets, it is worth highlighting the company’s strong performance in developed markets such as Europe, which provided a notably positive contribution to our bottom line.” But on a cautionary note, Ghandour warned of “more challenging conditions” over the coming year, thanks to sustained inflationary pressure and higher fuel prices.