30 most admired companies in the GCC 2019
Thu 31 Jan 2019 11:11 AM

Headquarters Dubai

Sector Logistics

The global express, mail delivery and logistics services was founded by Fadi Ghandour in the 1980s in Jordan. Aramex was the first Arab-based company to be listed on the NASDAQ stock exchange before it moved its headquarters to Dubai and became listed on the Dubai Financial Market (DFM).

In December, Aramex launched a crowd-based delivery platform, Aramex Fleet, in Saudi Arabia in a bid to offer Saudi nationals employment opportunities in flexible last-mile delivery duties. In January 2019, it also acquired Saudi Arabia-based company Saudi TAL for Commerce and Contract Company Ltd for approximately $80m. The move is meant to help Aramex operate more efficiently and allow it to focus on upgrading its last-mile delivery services. The acquisition is also in line with Saudi Arabia’s Vision 2030, which aims to encourage private sector investment to diversify the economy, according to Aramex. The global provider of logistics and transportation solutions revealed in October last year that its third quarter net profit surged by 38 percent to $30.7m), with its net profit for the nine-month period ending September 30 having also increased by 25 percent compared to the prior year period.

However, in 2018, the Dubai-based company announced it will sell its 60 percent stake in Aramex Global Solutions (AGS). The joint venture with Australia Post was aimed at allowing both firms to execute their strategic growth in the booming global e-commerce industry. The duo had partnered in 2016 to create the e-commerce delivery platform, with a particular focus on connecting the Australian e-commerce market with sellers in Asia.