A man walks past a DP World sign in Dubai in this March 23, 2010 file photo. DP World, one of the world’s largest port operators, reported a 26% rise in net profit for the first half of the year yesterday as its container volumes and margins increased. The company, one of the more profitable assets of debt-laden Dubai World, posted a first-half net profit of $332mn. This compares with a profit of $264mn 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 $290mn and $300mn. 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 13.9mn TEUs (twenty-foot equivalent units), up 8.5% from a year earlier. This refers to volumes only at ports that DP World controls.