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Aramex plans USD200m investments in 1.5 years  Join our daily free Newsletter

MENAFN - 04/02/2014

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(MENAFN) Dubai-based Aramex is planning to spend USD200 million on acquisitions over the next year and a half, Arabian Business reported.

The firms CEO said that the investments planned are part of a strategic push into Sub Saharan Africa.

"We're very bullish in our acquisitions. You will see us in 2014 scaling up a bit more and we're raising debt to facilitate those acquisitions," he told in an interview.

It is worth mentioning that the company had recently posted a 16 percent surge in net profit in the fourth quarter of 2013. Profits in the period hit USD20.8 million.

 






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