Emirates Group posts $1.1bln profit

DUBAI: The Emirates Group on Wednesday announced its 30th consecutive year of profit and steady business expansion, a statement said. In its 2017/18 annual report, the Emirates Group posted a profit of AED 4.1 billion ($1.1 billion) for the financial year ended March 31, 2018, up 67 percent from last year, it added.

The group’s revenue reached AED 102.4 billion ($27.9.billion), an increase of eight percent over last year, and the Group’s cash balance increased 33 percent to AED 25.4 billion ($6.9 billion) supported by the bond issued in March and strong sales due to the early Easter holidays at the end of March, it said.