Released within its 2017-18 Annual Report, Emirates Group posted a profit of AED4.1 billion (USD 1.1 billion) for the financial year ending March 31, up 67 percent from 2016. The Group’s revenue reached AED 102.4 billion (USD 27.9.billion), an increase of eight percent over 2016’s results, and its cash balance increased by 33 percent to AED 25.4 billion (USD6.9 billion), supported by the bond issued in March and strong sales due to the early Easter holidays at the end of March.
In line with the overall profit, the Group declared a dividend of AED2 billion (USD545 million) to Investment Corporation of Dubai.
H.H. Sheikh Ahmed bin Saeed Al Maktoum, chairman, Emirates Group, expanded, “Business conditions in 2017-18, while improved, remained tough. On the positive side, we benefitted from a healthy recovery in the global air cargo industry, as well as the relative strengthening of key currencies against the US dollar.”
In 2017-18, the Group collectively invested AED9.0 billion (USD 2.5 billion) in new aircraft and equipment, the acquisition of companies, modern facilities, the latest technologies, and staff initiatives.