We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

Latest News

Regional unrest bites into Aramex profits, up only 3 percent

Q3 net profit 48 million dirhams, up 3 percent; Third-quarter revenues 651 million dirhams; Profits hit by uncertainties in Egypt, oil prices


October 27, 2011 2:09 by

Dubai logistics firm Aramex reported a 3-percent rise in quarterly profits on Thursday as uncertainties in Egypt and high oil prices weighed on its growth.

Aramex posted a net profit of 48 million dirhams ($13 million) compared with 46.7 million dirhams in the prior-year, it said in a statement.

Revenues rose 19 percent to 651 million dirhams, from 545 million dirhams.

“Our operations are experiencing a slowdown due to uncertainties in Egypt and other markets, which has affected business and trade across the whole region,” Fadi Ghandour, Aramex’s chief executive said in the statement.

The company was forced to suspend its operations in Egypt during the uprising in January.

Ghandour also blamed high fuel prices, inflationary pressures on operating costs, increase in overheads, and the increasing cost of doing business in the Middle East due to political uncertainties for the subdued growth.

The logistics firm said it expects to announce new acquisitions in Central Asia and Africa by the first quarter of 2012.

The company acquired Ireland-based liner agent and freight forwarder Aquaship Agencies to expand its freight capabilities in Europe. (Reporting by Praveen Menon; Editing by Amran Abocar)


Tags: , , ,

Leave a Comment