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 1 2016 - Middle East aims Arab tourists despite fall in visitor numbersMENAFN
(MENAFN) Middle East nations are targeting Arabs, particularly from the Gulf, whereas many visitors remain cautious on visiting the region with war in Iraq and Syria.Moreover, Egypt saw a 40 percent ...

 May 1 2016 - Oman to build oil storage near Duqm port at USD 300mnMENAFN
(MENAFN) Oman aims to build a main oil storage terminal on its southeastern coast, spending between USD 300 and 400mn of the first phase.Moreover, it will be built by a subsidiary of state-owned Oman ...

 May 1 2016 - King Abdullah Port to boost economy in KSAMENAFN
(MENAFN) King Abdullah Port will play an important role in pushing the economy and specifically the trade in Saudi Arabia.Additionally, the port acts like a barometer and a catalyst for the growth of ...

 May 1 2016 - Bahrain to benefit from Jordan's health sectorMENAFN
(MENAFN) Bahrain affirmed keenness to benefit from Jordan's health legislation expertise and to start mega health projects in cooperation with Jordan.Furthermore, the Bahraini lawmakers discussed ...

 May 1 2016 - Dubai to build new bridge at Jebel Ali Zone at USD 28.58mnMENAFN
(MENAFN) Dubai will build a new bridge project which will link the South and North of Jebel Ali Zone.Moreover, the project which will be undertaken in cooperation with the Jebel Ali Zone will cost ...

 May 1 2016 - Qatar's Ezdan Holding net profit grows 12 percent in Q1MENAFN
(MENAFN) Real Estate Ezdan Holding Group posted a net profit of USD 160.82mn for Q1 of 2016, up 12 percent compared to USD 143.39mn posted last year.Moreover, the group is working to issue USD 2bn ...

 May 1 2016 - Yemen foes hold 'productive' direct talks on key issues: UNThe Peninsula
(MENAFN - The Peninsula) Yemen's United Nations envoy Ismail Ould Cheikh Ahmed arrives for a press conference at the ministery of information in Kuwait City on April 30 2016. Yemen's warring parties ...

 May 1 2016 - Arab League Council to hold emergency meeting at Qatar's request on Wednesday to discuss situation in AleppoThe Peninsula
(MENAFN - The Peninsula) Cairo: The General Secretariat of the Arab League has decided holding of an emergency meeting of Arab League Council at the level of permanent delegates on Wednesday ...

 May 1 2016 - Prospects for Syria political solution 'in danger': opposition chiefThe Peninsula
(MENAFN - The Peninsula) President of the National Coalition for Syrian Revolutionary and Opposition Forces Anas Al Abdeh (C) attend the 28th general meeting of Syrian Opposition and the National ...

 May 1 2016 - Qatar- Iraq forces in major offensive on Islamic State-held townThe Peninsula
(MENAFN - The Peninsula) Iraqi pro-government forces and Shiite fighters from the Popular Mobilisation units hold position on April 30 2016 as they launch an operation to retake the town of al-Bashir ...

 May 1 2016 - 'Enterprise Challenge Qatar' winners honouredThe Peninsula
(MENAFN - The Peninsula) DOHA: The ‘Enterprise Challenge Qatar’ 2016 a competition to develop the spirit of entrepreneurship among young people has recognised the winners of the Schools ...

 May 1 2016 - Qatar takes part in Quran recitation and memorisation contest in MalaysiaThe Peninsula
(MENAFN - The Peninsula) Doha: Qatar is participating in the 58th International Al Quran Recitation and Memorisation Assembly in Malaysia represented by Reciter Al Numan Imran Abdul Hamid who is ...

 May 1 2016 - Qatar's contributions to Sudan's economic stability praisedThe Peninsula
(MENAFN - The Peninsula) Khartoum: Sudanese Minister of Investment Mudesir Abdul-Ghani yesterday hailed Qatar’s contributions to achieving economic stability in Sudan. Abdul-Ghani told the ...

 May 1 2016 - Qatar- Ashghal to open two permanent lanes on Mesaieed Road 1 and divert trafficThe Peninsula
(MENAFN - The Peninsula) Doha: The Public Works Authority (Ashghal) will open two permanent lanes that are 2.5km long on Mesaieed 1 Road which is the link road between Hamad Port and the ...

 May 1 2016 - 102 Qataris gain leadership skillsThe Peninsula
(MENAFN - The Peninsula) H E Sheikha Al Mayassa bint Hamad bin Khalifa Al Thani Chairperson Board of Directors QLC and Minister of State for Defence Affairs and Vice Chair QLC Board with Qatari ...

 May 1 2016 - Qatar- Katara to train SU-Q studentsThe Peninsula
(MENAFN - The Peninsula) Dr Khalid bin Ibrahim Al Sulaiti (right) General Manager Cultural Village Foundation and Dr Ivan Ninov Executive Dean Stenden University Qatar after the signing ceremony held ...

 May 1 2016 - Qatar- HBKU Press unveils QScience Collections to boost researchThe Peninsula
(MENAFN - The Peninsula) Doha: QScience.com the online open access platform of HBKU Press is providing a new service that helps increase the impact of published articles. QScience Collections is a ...

 May 1 2016 - Qatar- Ooredoo tv includes MBC Pro Sports HD channels with Saudi Premier League coverageThe Peninsula
(MENAFN - The Peninsula) Doha: Ooredoo’s innovative new entertainment service Ooredoo tv has launched the ‘MBC Pro Sports HD’ catalogue enabling viewers to access four new channels. ...

 May 1 2016 - Qatar- Marine environment reviewedThe Peninsula
(MENAFN - The Peninsula) Doha: The Ministry of Municipality and Environment hosted a Meeting of the Steering Committee of the Marine Environmental High Risk Areas (MEHRAs) and Place of Refuge Project ...

 May 1 2016 - Qatar- Canadian journalist to speak at NU-Q graduation ceremony todayThe Peninsula
(MENAFN - The Peninsula) Renowned Canadian journalist Lyse Doucet will be the commencement speaker at its 2016 graduation ceremony. DOHA: Northwestern University in Qatar (NU-Q) will welcome ...

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