FINANCIAL NEWS

Aramex records $29m net profit September-end

26 Oct 2010

(MENAFN) Aramex founder and CEO Fadi Ghandour, reported that gross profits in the first three quarters of 2010 reached $29.1 million as opposed to $26.3 million the same period of 2009, which represents an 11 percent increase, Gulfnews reported.

Profits accelerated from $8.1 million in the third quarter of the previous year to $9.1 million in the third quarter of the current year, registering a 12 percent increase.

Ghandour added that the company continues to seek expansion opportunities in blooming markets such as Africa, South Asia and Commonwealth of Independent States.

Overall revenues of the July-September quarter accelerated from $95.3 million in 2009 to $106.5 million in 2010, reporting a rise of 12 percent.

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