US dollar helps Emirates boost net profit

Dubai-based Emirates Group has made a half-year net profit of US$631 million, up 77 per cent on the same period last year, as revenues rose six per cent to US$13.5 billion for the six-month period.
It carried 29.2 million passengers between April and September, up four per cent on the same period last year.
 
Chairman and chief executive Sheikh Ahmed bin Saeed Al Maktoum said: "Our margins continue to face strong downward pressure from increased competition. Oil prices have risen and we still face weak economic and uncertain political realities in many parts of the world."
 
He said profits were helped by the easing of the strong US dollar against other major currencies as well as initiatives "to enhance our capability and efficiency with new technologies and new ways of working.
 
"Moving forward, we will continue to keep a careful eye on costs while investing to grow our business and provide our customers with world-class products and services," he said.
 
Subsidiary dnata's profit was up 20 per cent to US$180 million, due to cost efficiencies and strong performances in its airport divisions. Dnata's travel division contributed US$420 million to revenue, up three per cent.
 

 

US dollar helps Emirates boost net profit

Dubai-based Emirates Group has made a half-year net profit of US$631 million, up 77 per cent on the same period last year, as revenues rose six per cent to US$13.5 billion for the six-month period.
It carried 29.2 million passengers between April and September, up four per cent on the same period last year.
 
Chairman and chief executive Sheikh Ahmed bin Saeed Al Maktoum said: "Our margins continue to face strong downward pressure from increased competition. Oil prices have risen and we still face weak economic and uncertain political realities in many parts of the world."
 
He said profits were helped by the easing of the strong US dollar against other major currencies as well as initiatives "to enhance our capability and efficiency with new technologies and new ways of working.
 
"Moving forward, we will continue to keep a careful eye on costs while investing to grow our business and provide our customers with world-class products and services," he said.
 
Subsidiary dnata's profit was up 20 per cent to US$180 million, due to cost efficiencies and strong performances in its airport divisions. Dnata's travel division contributed US$420 million to revenue, up three per cent.