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Dnata records highest ever profit
Gold Medal parent dnata made its highest ever profit in 59 years of operation in 2017-2018.
The company, which is part of Dubai-based Emirates Group, made US$359 million after increasing revenue 7% to $3.6 billion.
Dnata said it had seen a ‘healthy’ increase in long-haul travel and cruise bookings in Europe and Australia, while its UK-based Imagine Cruising consumer brand completed a successful first year of trading in Australia.
Emirates made a $762 million profit, 124% up on the previous year, after it added nine new aircraft to its fleet. Revenue was up by 9% to $25.2 billion.
Overall, the Emirates Group made a profit of $1.1 billion in 2017-2018.
Group chairman and chief executive His Highness Sheikh Ahmed bin Saeed Al Maktoum said: "Business conditions in 2017-18, while improved, remained tough. We saw ongoing political instability, currency volatility and devaluations in Africa, rising oil prices which drove our costs up, and downward pressure on margins from relentless competition. On the positive side, we benefitted from a healthy recovery in the global air cargo industry, as well as the relative strengthening of key currencies against the US dollar.
"We’ve always responded to the challenges of each business cycle with agility, while never losing sight of the future, and this year was no exception. In 2017-18, Emirates and dnata delivered our 30th consecutive year of profit, recorded growth across the business, and continued to invest in initiatives and infrastructure that will secure our future success."
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Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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