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FINANCIAL NEWS
Aramex earns $12.93m profit in Q1
29 Apr 2010
(MENAFN) Logistics company Aramex said that its first-quarter net profit grew to $12.93 million, as global economic activity picked up during the quarter, Reuters reported.
The Dubai-based firm said in a statement that its net revenue grew 14 percent to $144 million in the first three months of the year.
Aramex attributed the growth in revenues to its solid performance in all of its markets, and strong double-digit growth of its freight forwarding business, with a significant contribution coming from Europe.
It is worth mentioning that logistics firms including Aramex, Fedex and DHL have suffered during the economic slump and a rare decline of China’s exports for the most part of 2009, but a recovery has taken root since the middle of last year.
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