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FINANCIAL NEWS
Dubai’s DP World reports USD310m profit in H1
29 Aug 2012
(MENAFN) Dubai-based port operator DP World reported a weak 1.5 percent increase in half-yearly profit, on lower cargo traffic due to the global economy downturn, CBS News reported.
The company said it made a pre-tax profit of USD310 million during the first six months of 2012, slightly up from USD306 million a year earlier.
Gross container volumes rose by 7.5 percent in the period, driven by higher traffic in the Asia-Pacific region.
The company also reported a 10 percent increase in revenue to USD1.53 billion during the first half, compared to a year earlier.
DP World is the world’s third largest seaport operator, with a heavy emphasis on fast-growing markets in the developing world.
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