Dubai – Mubasher: The Emirates Group posted a 64% decline year-on-year in its profits during the first half of 2016, according to a statement.
Profits fell to AED 1.3 billion ($364 million) in H1-16, pressured down by the double impact of dollar strength and challenging investment environment.
However, the group’s revenues grew 1% year-on-year to reach AED 46.5 billion ($12.7 billion) in H1-16.
Emirates airline’s profits fell 75% year-on-year to reach AED 786 million ($214 million) in H1-16. Revenues also decreased 1% to AED 41.9 billion ($11.4 billion) in H1-16 from AED 42.3 billion ($11.5 billion) in H1-15.
The Dubai air services provider dnata’s profits slid 1% year-on-year to AED 549 million ($150 million) in H1-16. However, revenues, including income, grew 14% year-on-year to AED 5.2 billion ($1.4 billion)
