FINANCIAL NEWS

Aramex’ net profit hits USD16.6m in Q1

24 Apr 2012

(MENAFN) Aramex’ founder and chief executive officer, Fadi Ghandour, stated that the company’s net profit in the first quarter of 2012 hit USD16.6 million, up from last year’s first quarter net profit which amounted to USD13.6 million, thus registering a twenty two percent increase, reported Reuters.

Ghandour cited the increase in profit to the growth in GCC economies as well as expansions carried out by the courier in South Africa.

Ghandour elaborated saying that Aramex had acquired Berco Express, a logistics firm based in South Africa.

It is worth mentioning that Aramex was founded by Fadi Ghandour in 1982, where its name was acronym of “ARab AMerican EXpress” before its brand name Aramex. The company’s headquarters is based in Dubai.

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