The Emirates Group today announced its half yearly results posting a AED 2.1 billion (US$ 575 million) net profit for the first six months of its current fiscal year ending 30th September, up 68 per cent from AED 1.3 billion (US$ 343 million) from 30th September 2011.
Despite continued global economic pressure and high fuel prices, the Group's revenue and other operating income rose to AED 38.2 billion (US$ 10.4 billion) an increase of 16 per cent over the last year's results. This constitutes the first time in the Group's history that revenue surpassed the US$ 10 billion mark in a six month period.
The Group's cash position on 30th September 2012 remained strong at AED 15.2 billion (US$ 4.1 billion), compared to AED 17.6 billion (US$ 4.8 billion) as of March end 2012. The AED 2.4 billion difference in the cash balance is primarily resulting from a AED 2.0 billion Sukuk bond repayment in June 2012.
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