First-half (H1) profits at dnata (six months to 30 September) fell 64% to £66 million from £183 million this time last year when its balance sheet was boosted by a one-off gain of £68 million from the sale of its 22% stake in TMC, Hogg Robinson Group.
Emirates said Cook was a “major customer” of dnata’s travel and catering businesses in the UK.
Cook’s collapse, Emirates revealed, “resulted in an impairment loss on trade receivables and intangible assets amounting to AED 84 million [£18 million]”.
