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FINANCIAL NEWS
Aramex to grow 10-12% in 2011: CEO
27 Apr 2011
(MENAFN) Dubai-based Aramex’s Chief Executive Officer, Fadi Ghandour, said that for 2011, the company’s revenue would increase by ten to twelve percent, limited by the political unrest in the region, reported Arab News.
The CEO’s statement comes as the company stopped all Libyan operations and is still facing obstacles in both Syrian and Bahrain. He said that even though Syrian operations were not halted, uncertainties are still out there.
When asked about Libyan operations, the CEO said that the company does not expect a soon return to operations.
It is worth noting that the courier firm had a first quarter profit growth at five percent, amounting to USD13.6 million, driven by a twelve percent increase in revenues.
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