Dubai – Mubasher: Emirates Group reported a 67% increase in net profit in the fiscal year ended 31 March 2018, helped by the growth in its revenue.
The group’s net profit soared to AED 4.11 billion ($1.12 billion) in the last FY versus AED 2.46 billion ($670 million) a year earlier, according to a company statement.
"We benefited from a healthy recovery in the global air-cargo industry, as well as the relative strengthening of key currencies against the US Dollar,” Emirates’ chairman Ahmed bin Saeed Al Maktoum commented.
The group’s revenue increased by 8% year-on-year to AED 102.41 billion ($27.87 billion) in the last four quarters.
Emirates’ profit surged 124% to AED 2.8 billion ($762 million) in the fiscal year ended March 2018, compared to the prior-year period, while Emirates Group's subsidiary, dnata, posted an all-time high profit of AED 1.3 billion ($ 359 million).
In 2017, Emirates, the world’s largest airline by international passengers, invested AED 9 billion to purchase new jets and equipment and develop the infrastructure.
