Editorial

Security

Politics

World

Letters

Sports

Obituaries

Archives

The Emirates Group recorded net profits of Dhs 2.8 billion (US $ 762 million) for the financial year ended March 31, 2006 up five per cent from the previous year's record profits of Dhs 2.7 billion ($ 726 million).

Group revenue increased by an impressive Dhs 5.2 billion ($ 1.4 billion) or 27 per cent to Dhs. 4.3 billion ($6.6 billion) compared to Dhs 19.1 billion ($ 5.2 billion) last year. The Group's cash balance was a robust Dhs 11 billion ($3 billion) at the end of March, an improvement of 28.6 per cent against the previous year. For 2005-06 Emirates will pay an increased dividend of Dhs 386 million ($ 105 million) to its owner, the Government of Dubai, compared to Dhs 368 million ($ 100 million) last year.

In total, the ownership will have received Dhs 1.4 billion ($ 396 million) from Emirates since the financial year 2000-01.

The 2005-06 Annual Report of the Emirates Group comprising Emirates Airline, Dnata and subsidiary companies was released in Dubai on Wednesday at a news conference hosted by Sheikh Ahmed bin Saeed Al-Maktoum, Chairman and Chief Executive, Emirates Airline Group.

Sheikh Ahmed said: "These results clearly show that Emirates' customer-oriented approach and investments in providing a quality product-the best aircraft that money can buy, top-flight service and travel experience at a competitive price - has paid off in terms of retaining and winning new customers globally."

| News | Business | Features | Editorial | Security |
| Politics | World | Letters | Sports | Obituaries | Junior Observer |

Produced by Lake House
Copyright 2001 The Associated Newspapers of Ceylon Ltd.