ARAMEX PROFIT JUMPS 19%

ARAMEX PROFIT JUMPS 19%    Aramex International Ltd., a Mideast-based international express and forwarding company, said net income in the second quarter jumped 19 percent to $1.3 million on a 17-percent increase in revenue of $27.8 million.
   “The revival of the economies of the region has certainly helped growth in our business, and our cost fundamentals continue to be under control, which has led to the healthy net income growth,” said William Kingson, Aramex’s chairman.
   Aramex’s express revenue, which comes mostly from a delivery alliance with U.S.-based Airborne Express, grew 6 percent to $12.5 million.
   Freight forwarding revenue increased 28 percent to $10.9 million due to trade growth in the Mideast.
   Domestic revenue, which comes from intra-country delivery businesses in the region, rose 27 percent to $2.9 million, primarily as a result of growth in Saudi Arabia and India.
   Revenue from the direct marketing and mail order business, Middle East Direct, that Aramex launched last year jumped 65 percent to $1 million, primarily from sales in Egypt, Saudi Arabia and Jordan.
   In the first six months of the year, Aramex’s net income was up 16 percent at $2.2 million on 15 percent growth in revenue of $51.6 million.