Emirates Group reports steady revenue growth and a rebound on profitability

Emirates Group reported (09-Nov-2017) steady revenue growth and a rebound on profitability year-on-year in its half-year performance for 2017-2018, in spite of the continuing downward pressure on margins, a rise in oil prices, and other challenges for the airline and travel industry. Emirates Group reported revenue of AED49.4 billion (USD13.5 billion) for the first six months of its 2017-2018 financial year, up 6% from AED46.5 billion (USD12.7 billion) in 2016. Profitability rebounded after a low during the same period in 2016, with the group reporting a 2017-18 half-year net profit of AED2.3 billion (USD631 million), up 77%. This result was driven by capacity optimisation and efficiency initiatives across the company, steady business growth, and a more favourable foreign exchange situation year-on-year. The group's cash position as of 30-Sep-2017 was at AED 18.9 billion (USD5.2 billion), compared to AED19.1 billion (USD5.2 billion) as of 31-Mar-2017. [more - original PR]