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  • Chidozie Uzoezie

Emirates Half Year Profit Rebounds Despite Rising Oil Price


The Emirates Group yesterday announced its half-year results for 2017-18. The Group saw steady revenue growth and a rebound on profitability compared to the same period last year, in spite of the continuing downward pressure on margins, a rise in oil prices, and other challenges.

The Emirates Group revenue was US$ 13.5 billion for the first six months of its 2017-18 financial year, up 6% from US$ 12.7 billion during the same period last year.

Profitability rebounded after a low during the same period last year, with the Group reporting a 2017-18 half-year net profit of US$ 631 million, up 77%.

This result was driven by capacity optimisation and efficiency initiatives across the company, steady business growth, and a more favourable foreign exchange situation compared to the same period last year.

The Group’s cash position on 30th September 2017 was at US$ 5.2 billion, compared to US$ 5.2 billion as at 31st March 2017.

In the past six months, the Group’s employee base reduced by 3% compared to 31 March 2017, from an overall staff count of 105,746 to 102,669.

This was largely a result of natural attrition together with a slower pace of recruitment, as various parts of the business adopted new technologies, streamlined business processes and re-allocated resources.

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Comments (25)

Guest
Sep 21, 2022

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Guest
Sep 30, 2022

Wow! Stunning! Hilton seems to be taking Africa by storm. Just a couple of years back, they opened the first ever in Eswatini.

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kasarokcaesar
Oct 24, 2022

Wonderful event and topics discussed, hopefully we see the manifestations in our African airline businesses in the nearest future. Kudos to you all.

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Guest
Nov 10, 2022

Hi, I'm Lucy. Please how do I embark on my travel/ tour business. I am newbie and help..

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Guest
Nov 18, 2022

Prices in the Sol Torremolinos Don Pablo are the same than two weeks ago.

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Guest
Dec 04, 2022

Good location astounding but the staffs are rude and they make me wait so long for the service. They charge me more than what is on the website and did not refund me the manager is not helping with the issue


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Guest
Dec 15, 2022

WoW. Amazing Review. 👍

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Guest
Jan 07, 2023

I spent the holidays here, I don't know why but during the holidays their reception smells like a piss Id rather not spend my special occasions here

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Guest
Aug 07, 2023
Replying to

Where is here.

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Guest
Jan 27, 2023

Thank you for sharing such a detailed review about ethiopian airlines in your post. I am an avid traveller and keep reading flight reviews to assess the options available. Your review particularly drew my attention because you have shared so many pictures to capture every aspect of the flight experience. It is a very nice effort.


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Guest
Feb 27, 2023

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More Info : https://www.cleartrip.ae/flight-booking/ethiopian-air-airlines.html


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