DUBAI's global transportation and logistics company, Aramex, second quarter profits increased 10 per cent year on year to AED55 million (US$14.9 million) while first half profits came in at AED102 million, up 10 per cent year on year.

"For the second consecutive quarter, company revenues witnessed double-digit growth, reaching AED557 million, a rise of 15 per cent from the AED485 million registered in the same period of 2009.

These results were mainly due to an increase of business and strong growth in freight services in Europe and India. Building on the solid performance achieved in the first quarter of 2010, the company also achieved a high net profit margin of 10 per cent in the second quarter as it continued to focus on cost efficiency," Aramex said in a statement.

Said Aramex founder and CEO Fadi Ghandour: "Supported by our strong cash position, we remain focused on investing and expanding in emerging markets such as those in Africa, south east Asia and CIS countries."
(Source:www.schednet.com)