| 20 May 2024, Monday |

DP World’s first half profit climbs 52 percent, as global trade rebounds

Profits of the port operator DP World has soared by 52 percent in the first half-year on the back of higher revenue as global trade rebounded from the coronavirus pandemic.

Total profit attributable to owners of the company for the six-month period to the end of June rose to $475 million, the company said in a statement on Thursday. Revenue climbed 21.3 pe cent year-on-year to $4.94 billion.

“This significant growth once again demonstrates that we are in the right locations and a focus on the origin and destination cargo will continue to deliver the right balance between growth and resilience,” DP World Group chairman and chief executive Sultan Ahmed Bin Sulayem, said.

“In recent years we have seen cargo owners respond positively to our integrated end-to-end product offering and we aim to continue with our drive to enable trade. Our recently announced acquisitions of Imperial Logistics and syncreon bring value-add capabilities in high growth verticals and markets, which will allow us to offer a more compelling set of supply chain solutions.”

  • The National News