Aramex first quarter net profit rises 19%

Dubai: Aramex, the global logistics solutions provider, announced on Sunday net profits of Dh43.1 million for the three-month period ending March 31, 2009, compared to Dh36.2 million for the corresponding period in 2008, representing an increase of 19 per cent. The company’s strong financial performance, despite extremely challenging market conditions, reflects the adaptability of Aramex’s asset-light business model, and its ability to quickly adopt cost-efficient programmes during prolonged economic downturns.

Revenues for the first quarter of 2009 reached Dh463.4 million, a 6 per cent drop from the Dh494.5 million achieved during the same period in 2008. However, although this decrease was driven by a significant global slowdown in trading activity and a fall in worldwide industrial output, the depressed climate did help Aramex in reducing costs by negotiating better rates with its major suppliers.