Dubai-based logistics company Aramex reported a record revenue growth rate of 10 percent, year over year, in 2014. Net profits grew 15 percent compared to 2013. The company’s growth was due, in part, to fourth quarter revenue up 13 percent and net profit up 17 percent, compared to Q4 2013.
Aramex was busy last year, entering into a joint venture with InPost, a parcel locker network. In December, OneLogix sold PostNet South Africa to Aramex for U.S. $16.2 million in cash. And in November, Aramex expanded to Southeast Asia by entering into a partnership with Thailand-based Leo Global Logistics. Leo Global’s network throughout Asia includes Singapore, Malaysia, Indonesia, Hong Kong, China and Australia. This allowed Aramex to expand its import and export logistics in the region, and capture some of the growing e-commerce business.
Aramex also acquired Australia-based Mail Call Courier in June 2014 for U.S. $25.5 million. Mail Call Couriers has a fleet of approximately 300 vehicles, including bikes and trucks.
However, the Middle East still accounts for half of Aramex’s revenue. CEO Hussein Hachem expects sales will gain 10 percent in 2015.
Aramex, founded in 1982 by Jordanian Fadi Ghandour and Bill Kingson, was the first Arab-based company to be listed on NASDAQ. It is also listed on the Dubai Financial Market.