Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Emirates Group soars high with Dh4 billion net profit  Join our daily free Newsletter

MENAFN - Khaleej Times - 09/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Despite competitive pressure and a global economic environment that is only slowly recovering the group finished the year in a strong position.

emirates group which owns emirates airline and travel agency dnata on thursday announced its 26th consecutive year of profit at dh4.1 billion showing a 32 per cent growth over previous year and company wide growth.

despite competitive pressure and a global economic environment that is only slowly recovering the group finished the year in a strong position according to the company.

the financial year ending march 31 2014 also marked an unprecedented level of investment across the group continued expansion of its global footprint and the achievement of new capacity milestones.

“achieving our 26th consecutive year of profit in a financial year marked by record increases in capacity and significant business investments across the group is testimony to the strength of our brands and our business fundamentals” said shaikh ahmed bin saeed al maktoum chairman and chief executive emirates airline and group.

the group’s revenue jumped by 13 per cent to dh87.8 billion compared to financial year 2012-13. the group’s cash balance declined by 29.6 per cent to dh19 billion.

“our cash …. is lower than last year but healthy to go further” shaikh ahmed explained.

“throughout 2013-14 the group has collectively invested over dh22 billion the highest amount ever in one financial year. we know that to be a sustainable and profitable business we have to keep adding value to our stakeholders our customers partners and employees. to do this we need efficient new aircraft quality products and services and cutting-edge facilities. every dirham invested has been carefully considered against short and long-term goals — be it enhancing our capabilities improving our product or expanding our business footprint” he told reporters. the group also continued to invest in and expand on its employee base increasing its overall staff count by 11 per cent to over 75000-strong representing over 160 different nationalities across its more than 80 subsidiaries and companies. revenue per airline employee increased by four per cent to dh1.9 million.

“we are moving into the new financial year with confidence and a strong foundation for continued profitability with our strong balance sheet solid track record diverse global portfolio and international talent pool” said shaikh ahmed. “operating in a dynamic and highly-competitive environment means we have to stay agile and work even harder to meet and exceed our customers’ expectations. with the help of our 75000 strong multicultural workforce we have no doubt that we will be able to capitalise on the opportunities in the year ahead.”

similar to the last financial year the group declared a dividend of dh1 billion to the investment corporation of dubai.

emirates skycargo

defying the industry trend the 2013-14 financial year has been a strong one for emirates skycargo who for the first time reported a revenue over 3 billion to reach dh11.3 billion mark a 9 per cent increase over last year.

contributing 15 per cent of the airline’s total transport revenue emirates skycargo continues to play an integral role in the company’s expanding operations.

emirates skycargo’s tonnage strongly increased by 8 per cent to reach a remarkable 2.3 million tonnes in a flat and challenging airfreight market highlighting its ability to grow revenues against the industry norm. this year freight yield per freight tonne kilometre (ftkm) decreased by one per cent.

at the end of the financial year the emirates skycargo freighter fleet had grown to 12 aircraft – ten on operating lease and two on wet lease.

emirates’ destination

emirates’ destination and leisure management including hotels recorded revenue of dh623 million an impressive increase of 35 per cent over last year. this positive development was supported by the first full year of operation of the jw marriott marquis hotel in dubai the world’s tallest hotel. the second tower of the hotel will be fully operational later this year.

— abdulbasit?khaleejtimes.com


 


Khaleej Times




  MENA News Headlines
 May 3 2016 - Saudi- President of Turkmenistan Performs UmrahSaudi Press Agency
(MENAFN - Saudi Press Agency) Makkah Rajab 26 1437 May 3 2016 SPA -- President Gurbanguly Berdimuhamedov of Turkmenistan and his accompanying delegation performed Umrah rites heree yesterday. At ...

 May 3 2016 - Saudi- Turkmenistan's President Arrives in MadinahSaudi Press Agency
(MENAFN - Saudi Press Agency) Madinah Rajab 26 1437 May 03 2016 SPA -- President Gurbanguly Berdimuhamedov of Republic of Turkmenistan arrived in Madinah today to pay a visit and pray at the ...

 May 3 2016 - Saudi- Turkmenistan's President Leaves MadinahSaudi Press Agency
(MENAFN - Saudi Press Agency) Madinah Rajab 26 1437 May 03 2016 SPA -- President Gurbanguly Berdimuhamedov of Republic of Turkmenistan left Madinah today. At Prince Mohammed bin Abdulaziz ...

 May 3 2016 - Saudi- Custodian of the Two Holy Mosques Receives President of Burkina Faso Holds Luncheon in his HonorSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh Rajab 26 1437 May 3 2016 SPA -- The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud received at Al-Yamamah palace here today President Roch ...

 May 3 2016 - Stuttgart Germany Rajab 26 1437 May 03 2016 SPA -- A US soldier has been killed in fighting near the Iraqi city of Erbil US Defence Secretary Ash Carter said Tuesday during a visit to the southern German city of Stuttgart dpa reported.Saudi Press Agency
(MENAFN - Saudi Press Agency) The soldier who was part of the US-led military coalition against the ISIS extremist group died in combat but the exact circumstances of his death are not yet known ...

 May 3 2016 - Qatar- A hot day with temperature approximately 40 degreeThe Peninsula
(MENAFN - The Peninsula) Doha: The weather forecast for Qatar valid until 6pm Tuesday inshore will be hot during the day with slight dust at places at times and some clouds offshore will be hazy ...

 May 3 2016 - UAE- Jafza s trade with Netherlands reaches US732 millionEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 3rd May 2016 (WAM) -- The number of Dutch companies represented in the Jebel Ali Free Zone Jafza has grown steadily over the past few years up to 105 ...

 May 3 2016 - Saudi FM warns of dangerous situation in SyriaEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) GENEVA 3rd May 2016 (WAM) -- Saudi Foreign Minister Adel Al Jubeir warned of the danger of the situation in Syria pointing out that unless there was a ...

 May 3 2016 - Oil price upward trend to continue: Kuwait Petroleum InternationalEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) BRUSSELS 3rd May 2016 (WAM) -- Bakheet Al-Rashidi President and CEO of Kuwait Petroleum International KPI also known as Q8 has said that the recent upward ...

 May 3 2016 - UAE- Children's National Medical Centre shares innovative insights in the treatment and diagnosis of cerebral palsy at Latifa HospitalEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 3rd May 2016 (WAM) -- A multi disciplinary team consisting of a paediatric physiatrist paediatric occupational therapist and paediatric physical ...

 May 3 2016 - Kuwait Cabinet condemns Syrian regime s airstrikes on civilian targets in AleppoEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) KUWAIT 2nd May 2016 (WAM) -- The Kuwaiti Cabinet has condemned the Syrian regime's continued airstrikes on civilian gathering places residential areas and ...

 May 3 2016 - Pope Francis Joe Biden praise efforts of UAE and Sultan Bin Khalifa Humanitarian and Scientific FoundationEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ROME 3rd May 2016 (WAM) -- Pope Francis has praised the United Arab Emirates and the Sultan bin Khalifa Humanitarian and Scientific Foundation for their ...

 May 3 2016 - UAE- FNC delegation arrives in Amman to participate in WIP Global SummitEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) AMMAN 3rd May 2016 (WAM) -- Dr. Amal Abdullah Al Qubaisi Speaker of Federal National Council FNC has arrived in Jordan at the head of the UAE delegation to ...

 May 3 2016 - Lana Nusseibeh highlights UAE's crucial contributions on multilateral global issues at the UNEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 3rd May 2016 (WAM) -- Lana Nusseibeh Permanent Representative of the UAE to the United Nations has said that effective multilateral diplomacy ...

 May 3 2016 - UAE- RAK Ruler receives Bangladeshi Consul-GeneralEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) RAS AL-KHAIMAH 3rd May 2016 (WAM) -- H.H. Sheikh Saud bin Saqr Al Qasimi Supreme Council Member and Ruler of Ras al-Khaimah today received at his office in ...

 May 3 2016 - UAE- Amal Al Qubaisi meets former Vice President of European ParliamentEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) BRUSSELS 3rd May 2016 (WAM) -- Dr. Amal Abdullah Al Qubaisi Speaker of the Federal National Council FNC and Silvana Koch-Mehrin former member of the ...

 May 3 2016 - UAE- Minister of Infrastructure Development issues decision on total tonnage of shipsEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 3rd May 2016 (WAM) -- Dr. Abdullah bin Mohammed Belhaif Al Nuaimi Minister of Infrastructure Development Chairman of the Federal Transport ...

 May 3 2016 - UAE- Arab Interior Ministers Council calls for reconsideration of traffic safety strategiesEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) TUNISIA 3rd May 2016 (WAM) -- The Arab Interior Ministers Council has called for the reconsideration of Arab strategies programmes and plans to tackle the ...

 May 3 2016 - Maktoum bin Mohammed honours winners of Dubai Quality AwardEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 3rd May 2016 (WAM) -- H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum Deputy Ruler of Dubai and H.H. Mansour bin Mohammed bin Rashid Al Maktoum ...

 May 3 2016 - Jawaher Al Qasimi praises UAE's wise leadership for supporting children s rights and cancer patientsEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) SHARJAH 3rd May 2016 (WAM) -- H.H. Sheikha Jawaher bint Mohammed Al Qasimi Wife of H.H. the Ruler of Sharjah and Chairperson of the Supreme Council for ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help