Gold Medal Travel 2 parent dnata Travel sales up 6%

Growth in Dnata Travel’s underlying sales allowed it to contribute $456 million revenue to parent company Emirates, up 9% on the same period last year.

However, although overall Dnata Travel profit increased 31% to $235 million during H1, this was due to gains from divestment of its 22% stake in the Hogg Robinson Group, which was acquired by American Express Global Business Travel in July.

Profits would otherwise have been down 18% on last year without the transaction the business said in a trading update issued on Wednesday morning (December 5).

Emirates said dnata’s performance was division by strong results across its operations in the UAE and “healthy business in the UK which was also boosted by a stronger pound against the dollar”.

Group-wide Emirates profits fell 53% during H1 to $296 million with airline profits down 86% to $62 million.

The group has cited significant increases in fuel costs (up 37%) and unfavourable currency movements for the decline.

Group revenue increased 10% to $14.8 billion.