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DP World announces 26 % increase in net profit

: Sunday, August 31 - 2014 @ 09:21

DP World, one of the world’s largest port operators, announced a 26 % increase in net profit for the first half of the year as its container volumes and margins increased, Gulf Daily News reported. The company, one of the more profitable assets of debt-laden Dubai World, posted a first-half net profit of $332m. This compares with a profit of $264m in the corresponding period of 2013, it said in a statement. Two analysts surveyed by Reuters had forecast DP World would make a profit of between $290m and $300m. DP World’s revenue for the six months ended June 30 was $1.66bn, up from $1.51bn a year earlier. The company’s consolidated throughput in the first half of 2014 was 13.9m TEUs (twenty-foot equivalent units), up 8.5pc from a year earlier. This refers to volumes only at ports that DP World controls.

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Sunday, August 31- 2014 @ 9:21 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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