Emirates reports a USD600 million 1HFY2014 profit but sees a 'challenging' environment
Emirates chairman and CEO Sheikh Ahmed bin Saeed Al Maktoum has described the global business environment as "challenging", as the Emirates Group reported a profit of AED2.2 billion (USD600 million) for the six months to 30-Sep-2013. The profit result was up only 4% on the same period in 2012, while group revenue rose 13%. The Emirates Group described the result as a "robust performance" and a reflection of its "steady focus on its long-term vision and business growth".
Sheikh Ahmed struck an unusually cautious tone for Emirates, despite returning a profit most airlines would only dream of. While Group revenue rose to AED42.3 billion (USD11.5 billion), the carrier's mainline Emirates passenger airline business saw its bottom line results improved only 2%, to a net profit position of AED1.7 billion (USD475 million). The results show "steady demand for our products and services" according to Sheik Ahmed, and capacity and route growth "continue to match and meet passenger demand".
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