Emirates announces record growth

Skycargo carries 1.2mt of cargo THE EMIRATES Group has recorded its 19th consecutive year of profit with a new record performance backed by continued double-digit growth. Group net profits increased 23.5% to a new high of UAE Dirhams 3.5 billion (R6.68-billion) for the financial year ended 31st March 31, 2007, while Group revenue increased by 28.4% to Dhs 31.1 billion (R59.5-bn), compared to Dhs 24.2 billion (R46.86-bn) last year. The Group also maintained a robust cash balance of Dhs 12.9 billion (R24.85-bn) at the end of March, an improvement of 17.8% against a year earlier. Emirates SkyCargo recorded strong growth across its network to carry 1.2 million tonnes of cargo, surpassing by 13.5% its record of one million tonnes carried last year by. The division’s revenue of Dhs 5.4 billion (R10.65-bn) was Dhs 8 74 million (R1.7-bn) or 19% higher than the year before, and contributed 20% to the airline’s transport revenue, one of the highest contributions of any airline in the world with a similar fleet make-up, a spokesman said. In all, Emirates SkyCargo carries freight in 102 aircraft, including nine freighters, to 8 9 cities.